Israel-based Phase 3 ocular diseases biotech Tarsier Pharma files for a $35 million US IPO
IPO Overview
Tarsier Pharma, an Israel-based Phase 3 biotech developing steroid-free therapies for ocular diseases, filed on Tuesday with the SEC to raise up to $35 million in an initial public offering.
Tarsier Pharma is a late-stage clinical biopharmaceutical firm developing novel therapies for inflammatory eye diseases that can lead to blindness. Its lead platform, based on the immunomodulatory compound dazdotuftide, is designed to treat conditions such as non-infectious anterior uveitis without relying on steroids, which are the current standard of care but can increase the risk of glaucoma. The company is advancing both an eye drop （TRS01） and an injectable formulation （TRS02） to reduce inflammation while avoiding steroid-related side effects, targeting a significant unmet need among patients with uveitis and associated glaucoma.
The Zichron Yaacov, Israel-based company was founded in 2016 and plans to list on the NYSE American under the symbol TARX. Tarsier Pharma filed confidentially on December 29, 2025. Konik Capital Partners is the sole bookrunner on the deal.
About the Company
We are a late clinical stage biopharmaceutical company, focused on the development and commercialization of novel pharmaceutical therapies to address unmet need in blinding diseases of the eye with underlying inflammatory pathologies. Our dazdotuftide platform technology is a bio-inspired immunomodulator, designed to treat blinding inflammatory ocular diseases, and is currently being developed as both eye drops （TRS01） and intravitreal injections （TRS02）。 For the last seven decades, the standard of care for active non-infectious anterior uveitis （“NIAU”） has remained unchanged: topical steroids. While steroids effectively resolve inflammation, they are directly associated with a critical, sight-threatening side effect known as elevated intraocular pressure （“IOP”）。 This steroid-induced IOP elevation may promptly progress to glaucoma. Uveitis with co-morbid glaucoma — uveitic glaucoma （“UG”） — is a condition considered the end-stage of the disease. The clinical reality is severe. Vision loss in patients with uveitic glaucoma is nearly three-fold higher than in uveitis patients without glaucoma. Clinicians are forced to treat the inflammation that causes blindness with a drug that increases the risk for blindness via glaucoma. In the United States alone, there are approximately 160,000 patients with uveitic glaucoma who are trapped in this treatment cycle.