Today, Leo Lens Pharma, an emerging San Diego-based clinical stage eye care pharmaceutical company focused on helping protect sight, is enthused to announce a corporate name change to MediPrint™ Ophthalmics, effective immediately. The Company is also pleased to announce it has successfully closed an over-subscribed Seed round fundraising.
The Company’s rebranding to MediPrint Ophthalmics is based on input from stakeholders and prospective customers and is intended to align its name with the innovative and proprietary pipeline of products it is developing. Now is an ideal time for this change as MediPrint Ophthalmics prepares to enter the clinic where its lead asset, a proprietary drug-eluting, comfort-enhancing contact lens to treat patients suffering from primary open-angle glaucoma or ocular hypertension, will be tested in human trials for the first time. And its new name is just the beginning of a refreshed identity which will span from its web site to its logo to all other notable corporate identifiers.
Another significant milestone for the Company is the close of an over-subscribed Seed round fundraising. The total raised in the Seed round exceeded $4.0 million, with $2.6 million from new investors, including from the lead investor which is the venture arm of a leading global ophthalmic pharmaceutical company. As previously reported, these funds are intended primarily to support the Phase 2a clinical study along with the end of Phase 2 meeting with the FDA.
“This is an especially exciting time for MediPrint Ophthalmics as we start a new stage in our journey to help protect sight for patients suffering from potentially debilitating eye diseases such as glaucoma,” commented Dan Myers, CEO of MediPrint Ophthalmics. “Our new corporate identity will make it easier for patients and eye care professionals to identify us and understand what we aim to do. And closing our Seed round successfully is a tribute to the hard work our team has done to date and to the vision for the future of eye care we gratefully share with a group of passionate investors,” he added.
About MediPrint™ Ophthalmics
MediPrint™ Ophthalmics (formerly Leo Lens Pharma) is an emerging San Diego-based clinical stage eye care pharmaceutical company focused on helping protect sight by developing and commercializing a proprietary ocular drug delivery portfolio. The Company is currently advancing its lead asset, a unique and complete glaucoma treatment, to the clinic while continuing to build out its product portfolio for dry eye, allergy, and other anterior and posterior segment conditions. Using its proprietary MediPrint process, MediPrint Ophthalmics will initially commercialize a drug-eluting, comfort-enhancing contact lens to treat millions of glaucoma patients worldwide. While eye drops have been around for over 40 years and remain the standard of care for over 90% of patients, they have only around a 50% compliance rate. This leads millions to suffer from disease progression and thousands to suffer from preventable blindness. There is a large unmet need for a better non-invasive treatment option in this $4B U.S. market. MediPrint Ophthalmics’ patented MediPrint process offers a unique value proposition for patients, practitioners, strategic partners, and payers.
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