Re-Vana Therapeutics
Re-Vana Therapeutics is a 2016 start up, a QUB spinout, developing innovative long-acting ocular drug delivery technologies. The technologies offer innovations on delivering drugs to the eye and so can improve treatment of unmet diseases.
Problem Re-Vana Therapeutics is trying to solve.
Macular degeneration, glaucoma, and diabetic eye disease are responsible for 74% of blindness related to retina eye diseases. Unfortunately, delivering drugs to the eye to treat these conditions presents significant challenges. Firstly, frequent (monthly or bi-monthly) and uncomfortable intravitreal injections for serious retina diseases are required, which can lead to potential complications. Secondly, while topical eye drops are a common for eye diseases such as glaucoma, poor patient compliance rates of 90% are reported. To advance treatment and improve patient outcomes, sustained release technologies capable of delivering drugs to the eye for six months or longer are necessary.
Patients face significant problems on receiving or taking ocular medications:
1) For potentially blinding eye diseases patients must receive frequent injections into the eye by the retina specialist (ophthalmologist), either monthly or bimonthly. This can cause significant patient discomfort; potential side effects and the patient must be accompanied to the eye clinic with a partner.
2) For other common diseases like glaucoma, another potentially blinding eye disease, patients take eye drops.
Solution to the Problem
To overcome the above problem, Prof Raj Thakur (Founder and CTO) and his team identified a solution which can result in significant reduction in frequency of intraocular injections or eyedrops. The innovate photocrosslinked technologies can deliver biologics and small molecule therapeutics to the eye for an extended period of 6 months to 2 years. These long-acting drug delivery technologies can achieve prolonged therapeutic drug concentrations in the target ocular tissues, whilst both improving patient adherence to therapy and limiting systemic exposure and side effects.
Re-Vana Therapeutics journey towards success
To develop and commercialize its products, Re-Vana Therapeutics participated in the ICURe (Innovation to Commercialisation of University Research) program, a UK-based initiative designed to help academic researchers commercialize their research. The program provided Re-Vana Therapeutics with the following opportunities:
- Mentoring: it offered guidance and support from experienced mentors who helped Re-Vana Therapeutics to develop their commercialization plans. As a startup, it was difficult for Re-Vana Therapeutics to go through market validation, ICURe programme helped them to conduct market research and there on receive constructive feedback from potential customers and investors, which can help them refine their products and services.
Upon asking Prof Raj Thakur about how much it is important to evaluate ideas and complete proper market validation, he stated that, “It is important to evaluate your idea as the first step to commercialisation and hence the value of programmes such as ICURe comes into play in market discovery.
“I believe that you’re not going to be an expert in everything in the company, so I focus on the science and do this well, mentors from ICURe helped me to have a balance between other aspects of business to have a practical approach”. – Prof Raj Thakur, Founder & Chief Technological Officer
- Intellectual property protection: The program also offered guidance on intellectual property protection, which can be critical for startups that are developing new technologies.
- Networking: The programme also provided opportunities to connect with potential customers, investors, and partners.
- Funding: One important factor which played a crucial part in Re-Vana’s journey was availability of funding at the right time to support the commercialization of their research.
What’s the best way to take research idea forward commercially?
“To effectively transition from the lab to the market, it is important to join a research group, complete a PhD, and aim for a postdoc position to gain expertise and expand your network. Additionally, leverage market discovery programs like ICURe and market insights reports to understand industry needs and competitors. Lastly, develop a robust business plan and be open to seeking assistance from others, as successful commercialization often requires collaboration and diverse skill sets “. - Prof Raj Thakur, Founder & CTO
Funding Secured by Re-Vana Therapeutics
After successfully completing the ICURe programme, Re-Vana Therapeutics spun out in the year 2016. Since its inception, Re-Vana Therapeutics has made significant progress in advancing its research and development efforts. As a specialty drug delivery company focused on developing sustained-release therapeutics for the treatment of vision-threatening ocular diseases, Re-Vana Therapeutics' innovative approach to drug delivery has the potential to address significant unmet medical needs in this field.
In 2017, Re-Vana Therapeutics announced that it had secured seed funding of £1.2 million to support the development of its sustained-release drug delivery technologies.
In 2019, the company also announced that it had received a grant from Innovate UK grant to support the continued development of its drug delivery technologies.
In 2020, Re-Vana Therapeutics announced that it had closed a $3.25 million in Pre-Series A Financing round to support the development of its sustained-release drug delivery technologies.
In 2022, Re-Vana Therapeutics announced the closure of its Series A funding round with $11.9 million in Series A financing led by Visionary Ventures. Series A round was oversubscribed by more than $4 million and closed in two tranches. Also in 2022, Re-Vana received another Innovate UK grant in collaboration with QUB.
As Re-Vana Therapeutics has celebrated such successes in such a short period of time, what has been the key ingredient to success?
Thakur Replied- “We have a core team of strong individuals who bring unique skills, perspectives, and experiences to the table. When these individuals work together effectively, they can leverage their strengths to achieve the company's goals and objectives”.
Future goals for Re-Vana Therapeutics
Advance its drug delivery technologies: The company's future goals are likely to include advancing its technologies through preclinical and clinical testing to demonstrate safety and efficacy. Re-Vana Therapeutics has already made significant progress in developing sustained-release drug delivery technologies for the treatment of glaucoma and wet AMD. The company's future goals will include expanding its product pipeline to address other vision-threatening ocular diseases. Partnerships with academic institutions and industry players can provide access to expertise and resources that can accelerate research and development efforts. Re-Vana Therapeutics may have a goal of establishing additional partnerships to support its drug delivery technologies.
Ultimately, Re-Vana Therapeutics goal is to bring its sustained-release drug delivery technologies to market and make a meaningful impact on patient outcomes for vision-threatening ocular diseases. The company's future goals may include developing a commercialization strategy and partnering with distributors to bring its products to patients.