LOCATION: Oklahoma City
OCAST PROGRAMS: Oklahoma Applied Research Support, Oklahoma Health Research, Small Business Innovation Research, Oklahoma Nanotechnology Applications Project
OCAST FUNDING: $762,405
LEVERAGED FUNDING: $2.2M in federal funding and business financials
PATENT APPLICATIONS FILED: 2
NUMBER OF JOBS CREATED/RETAINED: 16
An estimated 1.75 million Americans over age 50 have developed loss of vision or blindness due to age-related macular degeneration. And of the more than 200,000 Oklahomans living with diabetes, 90 percent will develop an eye disease. Unfortunately, for 95 percent of individuals suffering from these debilitating retinal diseases, there is no cure.
With the support of OCAST, Oklahoma City-based Charlesson LLC is developing innovative treatments for weakening and blinding eye diseases. Current treatments require a monthly injection in the retina. Charlesson is developing nanoparticles that can be used in eye drops, tablets and long-term release injections required only once every four to six months.
These revolutionary treatments will be more comfortable for the patient, can be used by individuals who currently do not have a treatment option, will slow or stop the disease process and will prevent vision loss.
Charlesson has leveraged the funding provided by OCAST to attract grants from the National Institutes of Health. With more than $6 million in research grants, the company also has an annual revenue of $500,000 to $600,000 through contracts with national pharmaceutical companies. The company has expanded from two to 19 employees in only two years and anticipates hiring up to three high level scientists in 2009.
Charlesson is developing innovative eye treatments.