Tarsus Pharmaceuticals announced the completion of $60 million in Series B financing. Tarsus will use the funds to initiate a phase 2b/3 trial in the United States 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 drug treatment for this condition. The company’s product pipeline includes additional indications in eye care and other areas of high unmet clinical need.
The financing was led by Vivo Capital and included Frazier Healthcare Partners, Flying L Partners, Visionary Ventures, Aperture Venture Partners, and Horowitz Group.
“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,” Chen Yu, MD, MBA, Managing Partner at Vivo Capital, said in a company news release.
“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,” said Bobby Azamian, MD, PhD, Tarsus CEO.