Ocular Therapeutix Grabs $14M in New Round for Eye Therapies
Xconomy, Ryan McBride, February 3rd, 2011- Ocular Therapeutix has found a new investor and a fresh round of capital to advance its hydrogel-based treatments for the eye, CEO Amar Sawhney told me yesterday. The Bedford, MA-based startup is raising $14 million in a Series D round of venture capital.
Ascension Health Ventures, the investment unit of the largest Catholic hospital chain in the country, Ascension Health, is the new investor in Ocular’s fourth round of financing. The round also includes previous investors, including Polaris Venture Partners, SV Life Sciences, and Versant Ventures. The 35-person company has now raised $41.2 million from investors.
Last month Ocular, formerly known as I-Therapeutix, took in $6 million from its previous backers as part of its third-round financing. Now with about $20 million in fresh capital from that raise and its latest round, the company has some ambitious plans to advance its hydrogel-based drug delivery products into mid-stage clinical trials for pink eye and glaucoma as well as to begin a human study that the FDA is requiring the firm to do in order to gain U.S. market approval for a hydrogel eye bandage that’s been approved in Europe since early 2009, Sawhney said.
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