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Aerie completes $30-million round of Series B funding for glaucoma product portfolio
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RESEARCH TRIANGLE PARK, N.C. - Aerie Pharmaceuticals has completed a $30-million round of Series B financing to advance its glaucoma product line and fund phase 3 trials of its lead product, the company announced in a press release.
The round of financing was led by Clarus Ventures and Sofinnova Ventures, with participation from Osage University Partners, Alta Partners and TPG Biotech, the release said.
Aerie's lead product, AR-12286, is a selective Rho-kinase inhibitor that lowers IOP by improving outflow of fluid through the trabecular pathway. Phase 2 studies of the drug are planned for 2011, and the company hopes to begin phase 3 trials by the end of the year.
Aerie is also pursuing a novel glaucoma drug class and conjunctival insert technology for long-term delivery of glaucoma drugs, according to the release.
"We are excited about the potential for Aerie's compounds to offer multiple, improved and differentiated treatment options for millions of patients suffering from this widespread, degenerative disease," Tom van Haarlem, MD, president and CEO of Aerie, said in the release.