Precision Ocular, an Oxford, UK-based retinal therapeutics company, raised £15.5m in Series A funding.
Investors included Imperial Innovations, Consort Medical plc, NeoMed, V-Bio Ventures and Hovione Scientia Ltd.
The company intends to use the funds to develop programs to treat retinal diseases such as age related macular degeneration and diabetic macular oedema, as well as rare and orphan indications, and enable the development of next generation ocular drug delivery systems which can administer cell and gene therapies to the back-of-eye.
Founded in 2014 and led by Tom Cavanagh, CEO, Precision Ocular is developing novel retinal treatments engineered to access specific small spaces in the eye and to provide drug distribution to tissues specifically involved in retinal diseases. The company’s product development pipeline includes treatments for both prevalent retinal diseases, such as age related macular degeneration and diabetic macular oedema, as well as rare and orphan indications.