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Okogen receives funding to advance ranpirnase for viral conjunctivitis
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Okogen Inc. announced $10 million in Series A funding to advance the development of the company’s candidate for viral conjunctivitis treatment, OKG-0301.
Seventy percent of U.S. conjunctivitis patients seek treatment each year, of which 80% have viral forms of the infection, according to a press release from the company.
“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,” Brian M. Strem, CEO of Okogen, said in the release. “This Series A funding will support our OKG-0301 clinical development plan, including initiation of a phase 2 clinical trial before the end of 2018.”
OKG-0301 is an ophthalmic formulation of ranpirnase, a potent ribonuclease with established broad-spectrum antiviral properties.
The phase 2, multicenter, double-masked clinical trial has a planned enrollment of more than 200 patients, according to Strem, in a statement provided to Primary Care Optometry News.
“The study will evaluate multiple parameters including time to clinical cure, duration of viral shedding (how long a patient is contagious for), viral titer levels and second eye infection. We also will be evaluating all safety parameters,” he added.
With no approved therapies, adenoviral conjunctivitis has significant unmet medical need throughout the world, according to the release.
Okogen also announced the appointment of Quinton Oswald to its board of directors. Oswald currently serves as the president and CEO of Notal Vision, a commercial-stage ophthalmic company focused on age-related macular degeneration.