Oculis, a Reykjavik, Iceland-based developer of a patented solubilizing nanoparticle (SNP) drug delivery platform, closed a Series A financing of undisclosed amount.
The round was led by Brunnur Ventures and Silfurberg. In conjunction with the financing, Árni Blöndal of Brunnur Ventures and Stefan Jökull Sveinsson, former Global head of R&D at Actavis will join the Board.
The company intends to use the funds for the continued development of its platform and drug candidates, including the first topical eye-drops for treatment of diabetic macular edema.
Co-founded by Dr. Thorsteinn Loftsson, a scientist in the field of cyclodextrin based drug delivery, and Dr. Einar Stefansson, an ophthalmologist in the field of diabetic eye disease, Oculis is a clinical-stage pharmaceutical development company focusing on ophthalmic drugs and novel drug delivery to the eye.
Its SNP technology allows for treatment of retinal diseases with topically administered eye-drops by enhancing solubility of lipophilic drugs and providing sustained release over several hours.