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SARcode Bioscience secures funding to develop new dry eye drug

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BRISBANE, Calif. — SARcode Bioscience Inc. has announced the completion of $44-million Series B private equity financing with the aid of Sofinnova Ventures, Rho Ventures, Alta Partners and Clarus Venture Partners, according to a company press release.

Proceeds from the Series B financing will mainly support further clinical development of SAR 1118, a topical small-molecule integrin antagonist that inhibits T-cell-mediated inflammation.

In a phase 2 randomized, placebo-controlled trial of 230 subjects with dry eye disease, SAR 1118 was well tolerated and effective, improving corneal staining at 12 weeks and increasing tear production as early as 2 weeks, according to the release. Ocular adverse events were primarily transient, mild and related to initial instillation of the drug.

SARcode plans to initiate Phase 3 clinical studies with SAR 1118 in the second half of 2011, the release said.