Precision Ocular Ltd, a London, UK-based retinal therapeutics company, raised £13.5m in funding.
The round was led by Imperial Innovations, which has committed £6.9m, with participation from Consort Medical plc, a global single source pharma services drug and delivery device company with whom Precision Ocular has a strategic development and manufacturing agreement; NeoMed, an international venture capital firm focused on the healthcare industry; and Hovione Scientia Ltd, a pharmaceutical manufacturer specializing in particle engineering and drug encapsulation with whom the company is developing proprietary drug products.
The company will use the funds to accelerate development of its technologies and advance leading programs into human clinical studies.
Founded in late 2014 by Chief Executive Officer Tom Cavanagh and Chief Scientific Officer Ron Yamamoto, and also led by VP Corporate Finance Juliet Thompson, who joined in 2015, Precision Ocular is advancing novel retinal treatments engineered to access specific small spaces in the eye and to provide drug distribution to tissues specifically involved in retinal diseases, effectively optimizing the pharmacokinetics and pharmacodynamics of both existing and new ophthalmic therapeutic agents.
The team is developing treatments for prevalent retinal diseases, including age-related macular degeneration (AMD), diabetic macular edema (DME), retinal vein occlusion (RVO), uveitis and cystoid macular edema (CME).