BEDFORD, Mass.--(BUSINESS WIRE)--Ocular Therapeutix, Inc. announced today that it has secured additional financing, with Baxter Ventures acquiring a minority equity stake.
This round of financing follows Ocular Therapeutix’s Series D extension, which closed in November, 2012. Ascension Health Ventures, who led Ocular Therapeutix’s Series D financing, also participated in the current round. The additional financing will help further the development of Ocular Therapeutix’s sustained release drug programs, which include prostaglandin analogs for the treatment of glaucoma, and corticosteroids for treatment of post-operative inflammation and pain. The funding will also support commercial launch of the ReSure Sealant in the United States following FDA approval of the device.
“We are proud to be associated with a global healthcare company such as Baxter,” said Amar Sawhney, president and CEO of Ocular Therapeutix, Inc. “Baxter’s investment recognizes the significant progress made by the company.”
“Through our investment in Ocular Therapeutix, we are continuing to incubate innovation that has the potential to address areas of unmet need, provide sustainable long-term growth potential and offer a sustainable competitive advantage,” stated Geeta Vemuri, vice president and head of Baxter Ventures.
“We are pleased to invest again alongside Baxter for the continued development of these programs,” added Tara Butler, investment director, Ascension Health Ventures.
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 developing 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.
About Baxter Ventures
Baxter Ventures is a venture initiative established in 2011 by Baxter International Inc. to invest in companies with innovative technologies, products and therapies with the ability to improve patient care globally and maximize value for investors and entrepreneurs. Baxter International Inc. is a global, diversified healthcare company that applies a unique combination of expertise in biotechnology, medical devices and pharmaceuticals to create products that advance patient care worldwide.
About Ascension Health Ventures
Ascension Health Ventures was launched in 2001 as a wholly-owned subsidiary of Ascension Health. AHV’s role has been to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry and significantly enhance the quality of patient care. CHV II, LP, a limited partnership between Ascension Health, Catholic Health Initiatives, Catholic Health East and Catholic Healthcare West, has been formed to expand this strategic investment initiative to other Catholic healthcare systems. AHV is the general partner of CHV II, LP.