UVA’s seed fund and corporate venturing unit PharmStandard Ventures featured in topical dry eye syndrome peptide spinout TearSolutions' financing round, taking its total to $21.5m.
TearSolutions, a US-based developer of topical dry eye syndrome therapies spun out of University of Virginia (UVA), has closed a $6.4m funding round backed by the $10m UVA Licensing and Ventures Group Seed Fund.
The transaction, comprised of preferred stock and convertible promissory notes, was led by the Virginia Tech Carilion Innovation Fund, a VC partnership between Virginia Tech’s Foundation and healthcare provider Carilion Clinic.
PharmStandard Ventures, the corporate venturing arm of pharmaceutical firm PharmStandard, also equipped…
