Silk Technologies, Ltd, a Plymouth, MN-based biotech company, raised $11.2M in Series A funding.
The round was led by Skyview Ventures, LLC, a wholly-owned subsidiary of global private equity firm Skyview Capital.
The company intends to use the funds for the development of SDP-4 through Phase-2 proof of concept studies.
Led by Brian Lawrence, Ph.D., co-founder and CEO, Silk Technologies leverages a patented technology platform that uses silk protein to develop biological drugs designed to treat eye disease. Their lead drug candidate, SDP-4, has a dual mode of action. Pre-clinical findings have demonstrated that SDP-4 has potent anti-inflammatory activity that target known causes of Dry Eye Disease. In addition, SDP-4 improves the wetting properties of ophthalmic formulations, which is essential for enhancing comfort during use.
The Silk Technologies board of directors includes Dr. Brian Levy, Alex Soltani, Dr. Brian Lawrence, Bill Mower, Dr. Emmett Cunningham, Jr and Dr. Paul Karpecki.