Orasis Pharmaceuticals has secured USD 78 million in financing to support the commercial launch of Qlosi (pilocarpine hydrochloride ophthalmic solution) 0.4 percent, a novel corrective eye drops for the treatment of presbyopia in adults.

The Series D financing included a USD 68 million equity component, co-led by Arboretum Ventures and Johnson & Johnson Innovation – JJDC, Inc., along with participation from Catalio Capital Management, Freepoint Capital Group, and returning investors—Visionary Ventures, Bluestem Capital, SBI (Japan) Innovation Fund, Sequoia Capital, and Maverick Ventures, as well as other individuals.

Concurrent with its equity raise, Orasis has secured USD 15 million in structured capital from Catalio Capital Management, of which USD 10 million will be drawn at closing.

"We are proud to collaborate with leading, high-quality investors who share our dedication to reshaping vision possibilities for presbyopes seeking a break from reading glasses," said Elad Kedar, Chief Executive Officer of Orasis Pharmaceuticals.

"This significant funding will allow us to successfully launch Qlosi, providing the eye care community a near-vision solution with a balance of efficacy and tolerability, using the lowest effective concentration of pilocarpine approved."

"We are pleased to co-lead this financing and to join an experienced syndicate of investors whose collective support is further validation of the market potential for Qlosi," said Paul McCreadie, Managing Partner at Arboretum Ventures. 

"We have high confidence in the Orasis team to successfully launch Qlosi and generate a positive impact on patients' near vision," added McCreadie.