ArGentis Pharma raises $1M for dry-eye treatment
ArGentis Pharmaceuticals, a Memphis-based specialty pharmaceutical company, raised $1 million of a projected $2 million first funding round, VentureWire reports (subscription required). The company is developing testosterone- and progesterone-based eye creams to treat dry-eye syndrome, also known as keratoconjuctivitas sicca, a condition in which the glands that keep the eye moist fail to produce a sufficient quantity of tears.
Investors in the company include angels from Tennessee, Baltimore, New York and Denver, VentureWire reported. The company plans to launch human trials of its eye creams by the beginning of next year.
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About the Author, David P. Hamilton
David Hamilton has been writing for VentureBeat LifeScience since April 2007. He formerly spent 14 years as a reporter for the Wall Street Journal in its San Francisco and Tokyo bureaus. Prior to that, he spent several years as a reporter at Science Magazine and as a reporter/researcher for the New Republic, both in Washington.
