EyeGate Pharma, a Waltham, MA-based pharmaceutical company developing ocular therapeutics, has raised an additional $5.9m as part of its Series D financing round.
With this additional close, Eyegate has raised a total of $28.5m in Series D funding to date.
The funds will be used to continue development of EGP-437 a dexamethasone derived corticosteroid solution formulated for the treatment of Dry Eye Syndrome (DES), an ocular surface irritation. EGP-437 is part of the company’s strategy of developing a pipeline of medicines for treating ocular diseases using its proprietary EyeGate® II Delivery System, a non-invasive, iontophoretic drug delivery system.
Currently, the ALLUVION Phase III study of EGP-437 in patients with DES is fully enrolled, awaiting last patient last visit, and top-line data, which is expected by the end of the first quarter 2011.
A prior Phase II study demonstrated significant improvements in the signs and symptoms of dry eye during and after Controlled Adverse Experiment (CAE) exposure.