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Canadian Bio Med Systems opens $10 million funding project to develop glaucoma, AMD drugs

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MONTREAL — Canadian Bio Med Systems has initiated a $10 million funding project of two drugs being developed for treating age-related macular degeneration and glaucoma, the company announced in a press release.

Canadian Bio Med Systems has opened the funding project through ICBS Limited.

Canadian Bio Med Systems is developing the AMD drug in conjunction with partner Ocular Therapeutics. In addition, Canadian Bio Med Systems is negotiating with a major Canadian university to develop a partnership with the University of Arizona, which is helping to develop the glaucoma drug, according to the release.