Ocular Therapeutix, Inc., Bedford, MA-based company that focuses on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology, has closed a $14m Series D financing.
The round was led by Ascension Health Ventures, with participation from existing investors Polaris Ventures, SV Life Sciences and Versant Ventures.
The company intends to use the funds to conduct Phase II clinical trials across a variety of therapeutic areas. The first trial will be conducted to reinforce safety and test efficacy of its first sustained drug delivery system, a moxifloxacin-loaded punctum plug. Following, Ocular Therapeutix plans to initiate additional Phase II clinical trials for punctum plugs designed for the management of glaucoma, dry eye, and allergies.
The company’s first product, the ReSure™ Adherent Ocular Bandage, is CE Mark Approved and commercially available outside the United States.
Founded in November 2006 Ocular Therapeutix is led by President and CEO Amar Sawhney.