Novaliq GmbH, a Heidelberg, Germany-based drug delivery company, completed a €13.9m ($18.1m) fifth round of financing.
The backer was Dievini Hopp Bio Tech Holding GmbH & Co. KG.
The company intends to use the funds to progress its pharmaceutical project CyclASol™ into clinical development, and extend its technology platform.
Led by Bernhard Günther, CEO, Novaliq develops a superior generation of ocular formulations for poorly soluble drugs. Its patented ocular formulations are based on semifluorinated alkanes (SFAs), which can be applied in the form of topical eye drops.