Tarsus Pharmaceuticals Secures $60 Million Series B Financing to Advance TP-03 into Pivotal Clinical Trials for Demodex Blepharitis

VCBeat (WeChat ID: vcbeat) learned from foreign media that on January 8, 2020, biopharmaceutical company Tarsus Pharmaceuticals completed a $60 million Series B financing round. The round was led by Vivo Capital, with participation from Frazier Healthcare Partners, Flying L Partners, Visionary Ventures, Aperture Venture Partners, and Horowitz Group.

Tarsus Pharmaceuticals is a privately held, clinical-stage biopharmaceutical company headquartered in Irvine, California. Founded in 2017, Tarsus Pharmaceuticals aims to apply innovative therapies to a range of conditions in need of better solutions, starting with Demodex blepharitis and eye care, and is dedicated to developing the first-ever medication for blepharitis.

This round of financing will be used to launch the Phase 2b/3 clinical trial of Tarsus Pharmaceuticals’ lead product, TP-03, in the United States, as well as to support Phase 1 and Phase 2 development for other clinical programs. An estimated 20 million people in the U.S. suffer from blepharitis, approximately 45% of whom exhibit clinical symptoms of demodicosis. TP-03 is a topical ophthalmic drug targeting the potential underlying cause of blepharitis and has the potential to become the first-in-class therapy for this condition.

Dr. Michael Ackermann, Chairman of Tarsus Pharmaceuticals, stated, “Our mission in founding Tarsus Pharmaceuticals is to bring to market the first-ever therapy for Demodex blepharitis, addressing a critical unmet need and one of the most significant challenges in anterior segment medicine.”

Bobby Azamian, M.D., Chief Executive Officer of Tarsus Pharmaceuticals, stated, “Tarsus Pharmaceuticals sincerely appreciates the support provided by leading healthcare investment groups. This round of financing will enable Tarsus Pharmaceuticals to further advance its research on Demodex blepharitis and expand its clinical pipeline, thereby achieving broader therapeutic applications in eye care and other fields, and fulfilling Tarsus Pharmaceuticals’ mission to deliver innovative medicines.”

“Vivo Capital’s Managing Director, Chen Yu, stated, ‘We are pleased to support Tarsus Pharmaceuticals, which is developing the first-in-class therapy for demodex blepharitis and building a product pipeline to address significant market opportunities.’”

Vivo Capital is an investment firm focused on healthcare, established in 1996, with over $1 billion in assets under management. Leveraging more than a century of combined healthcare expertise and operational experience, Vivo is dedicated to helping its portfolio companies formulate corporate strategies, facilitate strategic alliances (including cross-border partnerships), recruit executive talent, and access new products and technologies to accelerate growth. Vivo’s current portfolio comprises more than 80 private and public biotechnology companies in the fields of biopharmaceuticals, specialty pharmaceuticals, and medical devices.

Frazier Healthcare Partners, established in 1991 and headquartered in Washington State, USA, is a leading investor in healthcare companies. The firm has invested in more than 170 healthcare companies, with investment types ranging from company creation and venture capital to growth-stage acquisitions and leveraged recapitalizations.

Flying L Partners is an investment firm focused on the healthcare industry, headquartered in Colorado, USA. Its mission is to create value for investors by bringing innovation to providers and patients for the treatment of diseases.

Visionary Ventures, headquartered in San Francisco, USA, is dedicated to investing in visionary entrepreneurs.

Aperture Venture Partners, founded in 2002, is a venture capital firm headquartered in New York, USA, focusing on the fields of medical devices, pharmaceuticals, healthcare, and diagnostics.

The Horowitz Group is a financial institution located in Newport Beach, California, United States.

(Compiled by: Chang Jia)