The financing was provided by a group of life science investors headed by Bay City Capital and Novartis Venture Fund. It will be used to advance the clinical development of the company’s DMO drug program called OC-118, which is currently in Phase IIb clinical trials.{{quote-A:R-W:450-I:2-Q: Treating retinal diseases with eye drops provides comfortable and accessible treatment options. -WHO:Dr Einar Stefánsson, Oculis co-founder and chief innovation officer}}“We are transforming eye drop technology and improving drug delivery to all parts of the eye. Treating retinal diseases with eye drops instead of injecting the eye with a needle provides comfortable and accessible treatment options for potentially tens of millions of patients with retinal disease,” Oculis co-founder and chief innovation officer Dr Einar Stefánsson said.OC-118 uses the company’s novel Solubilizing Nanoparticle (SNP) technology, which is believed to improve the formulation of drugs as eye drops and promote bioavailability in eye tissues. Several tests have proved SNP as an effective method of formulating well-tolerated treatments for retinal conditions.“This technology opens a new era of breakthrough ophthalmic therapies that could provide important benefits to patients. Our goal with the lead program OC-118 is truly to transform the way DMO is treated and managed today,” CEO Dr Riad Sherif added.
Opthea solvency in spotlight after ‘negative’ Phase 3 AMD trial result
Melbourne biopharmaceutical firm Opthea has failed to meet the primary end point in a pivotal Phase 3 trial of its...
