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Kala Pharmaceuticals completes $22.5 million Series B financing

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Kala Pharmaceuticals completed a $22.5 million Series B financing, according to a press release.

The funding was led by Ysios Capital and also included Crown Venture Fund, Lux Capital, Polaris Partners and Third Rock Ventures.

Funds will be used for the development of four clinical trials of loteprednol etabonate mucus penetrating particle (LE-MPP): a phase 3 trial for treatment of pain and inflammation after cataract surgery with 1% and 0.25% LE-MPP; a phase 2 trial with 0.25% LE-MPP in dry eye disease; a phase 2 trial with 0.25% LE-MPP in blepharitis; and an investigative trial in diabetic macular edema and retinal vein occlusion with 1% LE-MPP, the release said.

Kala also announced that Karen Wagner, PhD, general partner at Ysios Capital, has joined the board of directors.