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Azura secures $16 million in Series B funding

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Azura Ophthalmics has completed $16 million in Series B funding to advance development of a meibomian gland dysfunction treatment, according to a company press release.

The investment was led by a syndicate of OrbiMed, TPG Biotech and Brandon Capital’s Medical Research Commercialisation Fund and included participation from an existing investor, Ganot Capital.

“This latest round of financing validates the strength of our team’s accomplishments to date and will fuel Azura’s unique and innovative approach to treating dry eye,” Eugene de Juan, one of the company’s founders, said in the release.

The MGD therapy showed efficacy in a clinical proof-of-concept study, and the company is preparing for a phase 2a trial.