Financing will enable Stargazer to advance development of STG-001 through a pivotal clinical study in Stargardt Disease
BOSTON (PRWEB) NOVEMBER 09, 2020
Stargazer Pharmaceuticals, Inc., a biopharmaceutical company focused on the development of novel treatment options for rare eye diseases, announced it has completed a Series A financing totalling $57 million from leading investors Novo Holdings, venBio Partners, Canaan Partners and Pontifax to develop its proprietary compound STG-001 for treating Stargardt Disease. Stargazer also announced the initiation of a Phase 2a study of STG-001 in Stargardt Disease patients.
This Series A financing enables Stargazer to advance development of STG-001 through a pivotal clinical efficacy study potentially leading to a new therapy for Stargardt Disease, a major cause of vision loss in children and young adults. Stargazer is pleased to be collaborating with Foundation Fighting Blindness (FFB) for the development of STG-001. FFB also participated in this financing round via their investment vehicle, the Retinal Degeneration Fund.
Stargazer was launched by Novo Ventures, the venture arm of Novo Holdings, Gary Sternberg, MD, MBA, who serves as the company’s Chief Executive Officer, and Silvia Ragno, PhD, who serves as the company’s Chief Operating Officer, following licensing of STG-001 from Takeda Pharmaceuticals.