Exonate, an early stage biotechnology company has been awarded a £4.9M Seeding Drug Discovery award by the Wellcome Trust to continue development of an eye – drop treatment for wet age–related macular degeneration.
Exonate is bolstered further by a recent successful funding round of £1.5M from new and existing shareholders at the end of 2016.
The Wellcome Trust investment will be used to accelerate the development of Exonate’s first in class molecules – a topical eye drug as a much-needed alternative to current treatment by injections for wet Age-related Macular Degeneration.
Thanks to Wellcome Trust, Exonate will take several of these inhibitors into an optimisation programme culminating in the nomination of a preclinical candidate drug with optimal characteristics for clinical development. The funded project will also involve the assessment of the candidate in regulatory toxicology and safety pharmacology studies to support an application to the regulatory authorities for clinical evaluation at the end of the funding. Exonate expects to reach this milestone and enter the clinic in early 2020.
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