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EyeGate Pharma secures funding to continue developing potential dry eye treatment
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WALTHAM, Mass. — EyeGate Pharma has secured $22.6 million in Series D venture financing to continue clinical testing for a potential treatment for dry eye syndrome, the company announced in a press release. Of these funds, $11 million was made available in December, while $11.6 million will be held in reserve for future use, the release said.
The treatment compound, called EGP-437, is a dexamethasone-derived corticosteroid solution that significantly improved the signs and symptoms of dry eye in a phase 2 clinical study that employed the company's noninvasive, iontophoretic EyeGate II delivery system to transport the small molecule across the sclera to both the anterior and posterior chambers, according to the release.
Existing investors Ventech, Innoven Partners and Medicis Capital led the round of financing, with additional support from new investors Natixis Private Equity and Emerging Capital.
EyeGate Pharma expects to launch a pivotal study of EGP-437 during the first half of the year.