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Orasis Raises $13 Million to Replace Reading Glasses with Eye Drops

ORIGINALLY PUBLISHED BY CTECH

The Israel-based company develops eye drops intended to alleviate farsightedness caused by aging

Clinical-stage eye drop company Orasis Pharmaceuticals Ltd. has raised $13 million in series B, the company announced Tuesday.


The round was led by California-based ophthalmology-focused Visionary Ventures, with participation from investors including from Sequoia Capital, SBI Japan-Israel Innovation Ventures, and New York-based LifeSci Venture Partners. Following the investment, Visionary Ventures' Jeffry Weinhuff and SBI's Masafuyu Tanaka will join Orasis' board of directors.


Privately-held Orasis develops an eye drop treatment for symptoms of presbyopia, the loss of the ability to focus on close objects due to loss of lens elasticity, mostly as a result of aging. In addition to creating problems with performing tasks such as reading, farsightedness can also strain the eyes and cause headaches. Founded in 2015 by a team of ophthalmology and optometry researchers, Orasis is based in Herzliya, a northern suburb of Tel Aviv.

The company states its eye drops have the potential to eliminate the need for reading glasses in patients with presbyopia.


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