Ysios Capital has led a $22.5m Series B round for Kala Pharmaceuticals, which is focused on developing ophthalmic products based on its mucus penetrating particle (MPP) technology.
Crown Venture Fund, Lux Capital, Polaris Partners and Third Rock Ventures also participated in the round, which will help Kala advance clinical development of its loteprednol etabonate MPP (LE-MPP) programme.
The company plans to launch four clinical trials with LE-MPP in 2014. In addition, it expects to advance its small molecule receptor tyrosine kinase inhibitor for treatment for wet age-related macular degeneration (AMD) toward candidate selection in 2014.
Kala raised $11,5m in its previous round, which was led by Crown Venture Fund.
Ysios general partner said, “Leveraging its MPP nanotechnology, Kala has developed topical eye drops that allow therapeutic agents to pass through the mucus layer of the eye’s surface, facilitating penetration into deeper tissues of the eye, including the retina.
“This approach has yielded game-changing clinical-stage product candidates that may provide more convenient dosing for patients and improve efficacy in a range of ophthalmic indications, including dry eye disease and wet age-related macular degeneration.”
She added that “there is significant demand for breakthrough treatments for ocular diseases and Kala is uniquely poised to address these needs.”
Copyright © 2014 AltAssets