Oculis completes Series B funding

Oculis has completed an extension of its Series B funding of 15.5 million Swiss francs, bringing the funding round to a total of 35.5 million Swiss francs, according to a press release.

Led by Tekla Capital Management, the round also included funding from Nan Fung Life Sciences and other current investors. It will support in-licensing and development of Oculis’ products, including a line of topical treatments for major ophthalmic diseases, the release said.

The company plans to develop LME636, a topical anti-TNF alpha antibody it recently in-licensed from Novartis, as well as OCS-01, which is currently in clinical trials in patients with diabetic macular edema and will soon enter clinical development for post-surgery ocular inflammation.

LME636 will be renamed OCS-02. It has shown promise in treating anterior segment inflammatory conditions, including dry eye disease, in three clinical trials.

“Oculis is evolving and advancing rapidly. With this new fundraising, adding to the 20 million Swiss francs we raised a year ago, we have a strong financial position from which to drive our clinical development programs with OCS-01 and LME636/OCS-02 and to advance our portfolio of innovative candidates designed to address serious ophthalmic indications,” Oculis CEO Riad Sherif, MD, said in the release.

In addition to the fundraising, Oculis announced Tekla Capital Management Senior Vice President Henry Skinner, PhD, will join its board of directors.