Graybug Vision, Inc., a Redwood City, CA-based early stage pharmaceutical company developing ophthalmology products, raised $44.5m in Series B funding.
The round was led by Deerfield Management Company.
Led by Jeffrey L. Cleland, PhD, President and CEO, Graybug Vision is committed to developing therapies for cular diseases including wet age-related macular degeneration (AMD) and glaucoma. The company’s technology was first developed at Johns Hopkins University by Justin Hanes, PhD, in collaboration with Peter A. Campochiaro, MD, and Peter J. McDonnell, MD, and then spun out into a startup.
The company recently completed a 6 month study in animals for its lead program, GB-102, a therapy for twice-yearly treatment of wet AMD, which demonstrated the ability of its the technology to deliver a small molecule drug that blocks both VEGF and PDGF for over 6 months after a single intravitreal injection in rabbits.