New funding allows Azura to advance study of MGD treatment
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Azura Ophthalmics has raised $20 million in financing for registration studies of its lead clinical candidate for treatment of meibomian gland dysfunction, according to a press release.
The company received the round of funding after receipt of “encouraging” phase 2 data of its AZR-MD-001 (selenium disulfide) treatment for MGD, the release said.
Existing investors OrbiMed, TPG Biotech, Brandon Capital’s Medical Research Commercialization Fund and Ganot Capital led the funding round.
AZR-MD-001 is formulated as an ointment intended to address abnormal hyperkeratinization as a dermatological approach to treating MGD.
Azura plans to proceed to registration studies in 2021 and to further seek FDA approval for what would be “a first-in-class ophthalmic keratolytic for the treatment of lid margin diseases, starting with meibomian gland dysfunction and contact lens discomfort,” the release said.
“The promise of Azura’s dermatological approach lies in its ability to open the glands, increase lipid production and restore tear-layer health, as well as preventing disease progression in patients with meibomian gland dysfunction.” Preeya K. Gupta, MD, associate professor of ophthalmology at Duke University Eye Center, said in the release.
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