Allegro Ophthalmics LLC, a San Juan Capistrano, Calif.–based biotech company focused on treating vitreoretinal diseases, secured $10.7m in funding.
The backers were not disclosed.
The company intends to use the funds to continue to develop its therapies.
Led by Vicken Karageozian, MD, president and chief medical officer, Allegro is a biotechnology company focused on the development of novel therapies to treat vitreoretinal diseases. The company’s lead drug candidate, Luminate®, is an integrin peptide therapy that treats vitreoretinal diseases by targeting integrin receptors involved in cell signaling and regulation and in the construction of new and aberrant blood vessels. It has met the endpoints for two Phase 2 monotherapy studies for the treatment of diabetic macular edema (DME) and vitreomacular traction (VMT).
In addition, topline results of its Phase 2, Stage 2 DME clinical trial in which Luminate is being evaluated in combination and as an adjunctive therapy with anti-VEGFs will soon be announced.