TelomEYE Pharmaceutical, which aims to develop a new treatment for ophthalmological disorders, has received a $1 million investment at a $10 million valuation.
TelomEYE Pharmaceutical, which was founded by two Turkish scientists and an entrepreneur working on new generation ophthalmological treatments, received an investment of $1 million over a $10 million valuation in its tour. The company will use this financing to develop new generation treatments for age-related eye diseases.
TelomEYE Pharmaceutical, founded in Canada in 2021 by ophthalmologists Dr. Iskender Alkin Solmaz, Dr. Isilay Kavadarli and entrepreneur Kubilay Turkmen, aims to develop a new treatment that aims to prevent or slow the progression of some very common ophthalmological disorders so that it does not adversely affect human life.
Initially funded by the founders, the company recently went on an investment round, raising $1 million at a $10 million valuation. The investment tour was held with the participation of angel investors under the leadership of Mehmet Ali Aydinlar, one of the most important investors in the region in healthcare, Re-Pie Startup-1 Venture Capital Fund, Kerim Kotan, one of Turkiye’s leading investment bankers and serial entrepreneurs. This funding from TelomEYE Pharmaceutical will complement phase I and II human studies of new patented therapies in ophthalmology.
According to the World Health Organization data, presbyopia (loss of near vision), in which the eyes start to focus on close objects from the age of 40, is a common health problem that will affect approximately 2.1 billion people in 2030.
It will also have positive effects on eye dryness
TelomEYE Pharmaceutical set out to introduce a completely new and unique method, which has not been used before, in the prevention and treatment of age-related diseases such as cataracts and macular degeneration, popularly known as macular degeneration, especially presbyopia. TelomEYE Pharmaceutical’s treatment protocol is an approach that slows down the cellular aging of eye structures, thereby preventing and delaying the occurrence of age-related eye diseases. It has an important potential in the prevention, delay and treatment of many age-related eye diseases, especially the loss of near vision, thanks to its easy daily use from the end of the 30s to the beginning of the 40s. It is thought that the treatment will also contribute positively to the dry eye problem, which is one of the most common ophthalmological problems.
“To be used for the first time in ophthalmology”
Dr. Iskender Alkin Solmaz, co-founder of TelomEYE Pharmaceutical, explained his goal for the project as follows: “Scientific advances reveal new opportunities for prevention and treatment solutions for age-related ophthalmological disorders. Our scientific platform and patented technology will be available in ophthalmology for the first time. We aim to contribute to the quality of life of people by making this new and unique treatment protocol ready for use, which can have a very important place in the management of age-related ophthalmological disorders, while the life expectancy of people is getting longer in our age. We continue to work with all our determination and determination to achieve this goal.”
Kerim Kotan, one of the investors of TelomEYE Pharmaceutical, said, “Being an investor in TelomEYE Pharmaceutical gives great excitement and pride. The source of this excitement and pride is the ability to change the approach to age-related eye diseases treatments, which humanity has long accepted as unchangeable.”
Mehmet Ali Ergin, Deputy Chairman of the Board of Re-Pie Portfolio, said, “We are extremely happy with the investment received by an initiative that serves public health with innovative treatments such as TelomEYE Pharmaceutical. It is very valuable that the financing to be obtained will be used in new treatment methods. I wish the investment of TelomEYE Pharmaceutical to be auspicious for both investors, entrepreneurs and our country. We, as Re-Pie, want to lead the emergence of new unicorns and decacorns from our country by continuing our investments for the development of the entrepreneurial ecosystem of our country.”
Source: Egirisim / Translated by Irem Yildiz