SARcode Bioscience, a Brisbane, Calif.-based biopharmaceutical company, has closed a $44m Series B financing.
The round was led by Sofinnova Ventures, with participation from Rho Ventures and existing investors Alta Partners and Clarus Venture Partners.
The company intends to use the funds for further clinical development for its treatment of dry eye syndrome called SAR 1118. SARcode plans to initiate pivotal Phase 3 clinical studies with SAR 1118 in the second half of 2011.
The company, which was founded in 2006, is currently led by CEO Quinton Oswald.