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Oculis completes Series B financing to advance DME treatment candidate

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Oculis has raised 20 million Swiss francs, or $20.3 million, in Series B financing for the clinical development of OC-118 for the treatment of diabetic macular edema, according to a press release.

The financing was led by Bay City Capital, Novartis Venture Fund and Pivotal bioVenture Partners, and also included existing investors Brunnur Ventures and Silfurberg.

OC-118, developed using Oculis’ solubilizing nanoparticle technology platform, is currently in a phase 2b clinical trial for the treatment of DME and in prior pilot studies showed a “statistically significant and clinical meaningful improvement of visual acuity and reduction of central macular thickness of DME patients,” the release said.