Oxular Sets Out Eye Disease Plans Armed With $37m
Forbion Leads Financing
The fresh cash injection will fund Phase II studies evaluating the UK firm's 12-month treatment for diabetic macular edema.
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Private Company Edition: Clover’s $230m financing was the largest of recent mega-rounds. Century Therapeutics ($160m), Vividion ($135m) and eGenesis ($125m) also raised big rounds and investors Foresite Capital ($969m), Sofinnova Partners ($540m) and OMX Ventures ($150m) raised new VC funds.
Initial data show non-inferiority to Eylea in diabetic macular edema with reduced frequency dosing but not superiority. Even so, market dynamics suggest it could still carve out blockbuster sales.
The US regulator is worried about deficiencies in the submission for Provention Bio’s high-profile therapy teplizumab for the prevention of type 1 diabetes that could significantly delay its review.