SpyGlass Pharma secures $90 million in financing
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Key takeaways:
- SpyGlass Pharma completed $90 million in Series C financing.
- The funding will help advance clinical trials of an IOL-mounted drug delivery platform.
SpyGlass Pharma secured $90 million in Series C financing to conduct multiple U.S. clinical trials of its drug delivery platform, according to a press release.
The financing was led by RA Capital Management along with existing investors New Enterprise Associates and Vensana Capital and new investors Samsara BioCapital and Vertex Ventures.
Image: Adobe Stock
The IOL-mounted, controlled-release drug delivery platform is designed for multiple years of drug delivery to address unmet needs in glaucoma and other chronic ophthalmic diseases.
“We believe our approach represents a paradigm shift in the treatment of eye diseases, such as glaucoma, with significant advantages compared to currently commercialized therapies,” Malik Y. Kahook, MD, co-founder and president of SpyGlass, said in the release. “The efficacy and safety demonstrated from the first-in-human feasibility trial showing 45% mean IOP lowering in glaucoma patients, with 100% of subjects off all topical medication 9 months after implantation, is remarkable.”
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