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Okogen receives $10 million in Series A funding

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Okogen has received $10 million in Series A funding from Brandon Capital’s Medical Research Commercialisation Fund in order to advance the development of its viral conjunctivitis treatment candidate, the company announced in a press release.

OKG-0301, an ophthalmic formulation of ranpirnase, is currently in clinical development, and the funding will assist in the initiation of a phase 2 trial before the end of the year, the release said.

“There are no approved therapies for viral conjunctivitis, and patients frequently receive antibiotics despite their lack of efficacy in treating viral infections and potential to cause antibiotic resistance,” Brian M. Strem, CEO of Okogen, said in the release. “Safe and effective treatment options are needed to address this highly contagious and common infection, and we believe that OKG-0301 has substantial clinical and commercial potential in this indication.”