Co-founded by researchers at the Scheie Eye Institute of the University of Pennsylvania (UPENN) Medical School and Samuel Reich, then a doctoral candidate in UPENN's Ophthalmology Department, in October 2002,
Acuity Pharmaceuticals is a product-focused ophthalmic pharmaceutical company leveraging its strong technology portfolio in RNA interference. It is focusing on developing treatments for age-related macular degeneration (AMD) and diabetic retinopathy (DR), two of the leading causes of vision loss in the developed world.
In October 2004, Acuity Pharmaceuticals announced the closing of a $15 million financing deal to continue development of drugs to treat diseases of the retina. Of this $15 million, $2 million was from two venture capitalist companies from Japan (Diamond Capital Corp. and Trans-Science Inc.) that resulted from the efforts of the World Trade Center of Greater Philadelphia and the Pennsylvania Trade Representative from Japan, Mr. Nobuyuki Sakamoto.
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