Clearside Biomedical closes $20 million series C financing

Clearside Biomedical has completed $20 million in series C financing, the company announced in a press release.

Trout Capital served as an adviser to Clearside, and the financing round included new investors Aju IB Investment, Cormorant Asset Management, Perceptive Advisors and Rock Springs Capital Management, along with existing investors, the release said.

“This financing is another step in the further clinical development of Clearside’s pipeline to treat blinding diseases like uveitis, retinal vein occlusion and wet age-related macular degeneration using Clearside’s proprietary SCS (suprachoroidal space) microinjector to administer drug to the posterior segment of the eye,” Daniel H. White, CEO and president of Clearside, said in the release.

CLS-TA, Clearside’s proprietary formulation of triamcinolone acetonide developed for administration with the SCS microinjector, is undergoing three clinical trials.

Enrollment has begun for the phase 3 Peachtree trial of CLS-TA in the treatment of patients with macular edema associated with noninfectious uveitis. The phase 2 Tanzanite trial is designed to assess the safety and efficacy of CLS-TA used in conjunction with anti-VEGF injections in patients with macular edema associated with retinal vein occlusion. Enrollment is complete for the phase 2 Dogwood trial to study the safety and efficacy of CLS-TA in patients with macular edema associated with noninfectious uveitis.