BEDFORD, Mass.--(BUSINESS WIRE)--Ocular Therapeutix, Inc. announced today it recently closed a Series D extension round of financing totaling $23.8 million. After considering offers from several new investors, the decision was made to accommodate the strong existing investor interest by extending the prior round of financing. All existing institutional investors, including Polaris Ventures, Versant Ventures, SV Life Sciences, Sparta LLC, and Ascension Health Ventures participated at or above their pro-rata level in the current financing.
Ocular Therapeutix will use the funds to further advance development activities and implementation of clinical trials for its sustained release drug programs, including travoprost for the treatment of glaucoma, and dexamethasone for the resolution of post-operative inflammation and pain. The funds will also be used to support U.S. commercial launch efforts and to develop sustained release therapies for retinal diseases in collaboration with pharma partners.
Sustained release drugs offer advantages over current topical ophthalmic medications by improving patient compliance and eliminating the peaks and valleys associated with topically-administered drugs, which may improve disease control and the safety profile of certain drugs.
About Ocular Therapeutix, Inc.:
Ocular Therapeutix, Inc. is a privately held company based in Bedford, MA, focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology. Ocular Therapeutix is focusing on development of drug-eluting punctum plugs for treatment of glaucoma and post-operative inflammation and pain, injectable depots for back-of-the-eye diseases, and ReSure® Sealant for sealing clear corneal incisions following lens implantation surgery.