Morrisville-based Envisia Therapeutics has raised $4.6 million of a $5.1 million debt offering, according to a regulatory filing. Earlier this month, Envisia reported positive clinical trial results for its experimental glaucoma treatment.
The Envisia treatment, ENV515, is a biodegradable implant that delivers sustained treatment and could last eight months.
In trials, ENV515 showed results comparable to Travatan Z, the once-daily eye drop treatment from Alcon. The possibility that ENV515 would need to be implanted twice a year could make it a preferred treatment.
Envisia is a Liquidia Technologies spinout and raised $25 million from Liquidia investors to develop the glaucoma drug.
The company has grown to 23 employees since the 2013 spinout.
The company reported the debt offering in a filing with the U.S. Securities and Exchange Commission. Here’s the filing:
http://www.sec.gov/Archives/edgar/data/1655970/000165597015000001/xslFormDX01/primary_doc.xml
