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Inotek raises $21 million to continue development of glaucoma treatment
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Inotek Pharmaceuticals has closed a financing round that raised $21 million to help further development and study of a novel eye drop designed to increase aqueous outflow via the trabecular meshwork, according to a news release.
A recently completed phase 2 study of trabodenoson, given as monotherapy, demonstrated efficacy similar to that of prostaglandins, the release said. The funding will help finance a phase 2 study of trabodenoson combined with latanoprost to treat patients whose IOP is not well controlled by latanoprost alone.
Devon Park Bioventures, Rho Ventures, Care Capital, MedImmune Ventures and Pitango Venture Capital, the company’s existing investors, all participated in the financing, the release said. Inotek raised an additional $7 million in venture debt led by Horizon Technology Finance Corporation.