Clearside Biomedical, an Atlanta, GA-based ophthalmic startup specializing in the research, development and commercialization of therapeutic products through a proprietary ocular microinjection platform that targets the individual compartments of the eye, has launched with a $4m Series A venture financing.
The investment was made by funds of Hatteras Venture Partners, including Hatteras Discovery, as well as a small group of other investors including Henry Edelhauser, and Mark Prausnitz.
The company will use the funds for the initial development of its platform and initial clinical testing of its lead product (CLS1001) for Macular Edema and Retinal Vein Occlusion. Clearside Biomedical’s proprietary ocular microinjection platform has been designed to non-surgically deliver drugs to an area of the eye referred to as the suprachoroidal space, which allows a novel way of dosing of therapeutics to the tissues of the posterior segment of the eye and retina.
The company is led by veteran ophthalmic entrepreneurs Daniel White, President and CEO, and Ben Yerxa, Ph.D., VP, Research and Development, who both have substantial experience in the development and commercialization of products for the eye.
Hatteras will also have two members on the board, Clay Thorp and Christy Shaffer, who will serve as chair.