Tarsus Pharmaceuticals Raises $60 Million in Series B Financing
Capital to enable Phase 2b/3 trial for lead product TP-03 in Demodex blepharitis and additional clinical pipeline development
IRVINE, Calif., Jan. 8, 2020 /PRNewswire/ -- Tarsus Pharmaceuticals, a clinical-stage biopharmaceutical company, today announced the completion of $60 million in Series B financing. The financing was led by Vivo Capital and included Frazier Healthcare Partners, Flying L Partners, Visionary Ventures, Aperture Venture Partners, and Horowitz Group.
Tarsus will use the funds to initiate a Phase 2b/3 trial in the U.S. of their lead product TP-03 for Demodex blepharitis and fuel Phase 1 and 2 development of other clinical programs. An estimated 20 million Americans suffer from blepharitis, and approximately 45% of them have clinical signs of Demodex. TP-03 is a topical ophthalmic that targets an underlying cause of blepharitis and has the potential to be the first-ever drug treatment for this condition. The company's product pipeline includes additional indications in eye care and other areas of high unmet clinical need.
Chen Yu, MD, MBA, Managing Partner at Vivo Capital said, "We're excited to support this innovative company that is developing the first drug for Demodex blepharitis and building a pipeline of products to address other large market opportunities."
Michael Ackermann, PhD, Tarsus Chairman, commented, "We founded Tarsus with the mission of bringing to market the first drug for Demodex blepharitis, an important unmet need and one of the largest diseases in anterior segment medicine."
Bobby Azamian, MD, PhD, Tarsus CEO, added, "We are grateful for support from a leading syndicate of healthcare investors. This financing will allow Tarsus to grow, conduct a first registration study in Demodex blepharitis, and broaden our mission to deliver innovative therapies in eye care and beyond by advancing our clinical pipeline in 2020."
About Tarsus Pharmaceuticals
Tarsus is a privately held, clinical-stage biopharmaceutical company headquartered in Irvine, California. Tarsus was founded in 2017 to bring innovative therapies to a range of diseases in need of better solutions, starting with Demodex blepharitis and eye care. For more information, please visit tarsusrx.com.
SOURCE Tarsus Pharmaceuticals