Azura Ophthalmics Ltd., a Tel Aviv-Yafo, Israel-based clinical-stage biotechnology company developing innovative therapies for meibomian gland dysfunction (MGD), completed a $16m Series B funding.
The round was led by a syndicate of OrbiMed, TPG Biotech and Brandon Capital’s Medical Research Commercialisation Fund with participation from an existing investor Ganot Capital. In addition to the funding, Anat Naschitz, OrbiMed; Heather Preston, TPG Biotech and Chris Nave, Brandon Capital will join Azura Ophthalmics’ board of directors alongside Guy Katsav, Ganot Capital, Marc Gleeson, and Yair Alster.
The company intends to use the funds to advance development of drug therapy for meibomian gland dysfunction (MGD) to the next stage of clinical research.
Led by Marc Gleeson, Chief Executive Officer, Yair Alster, MD, founder and Chief Technology Officer, and Eugene de Juan, founder, Azura Ophthalmics is developing an innovative portfolio of compounds in combination with a novel drug delivery platform to advance a portfolio of treatments for Meibomian gland dysfunction (MGD), the leading cause of dry eye disease.
Meibomian glands reside in the upper and lower eyelids and are responsible for producing the oily layer that forms the outermost layer of the tear film. This oil (lipid) layer, in conjunction with the watery layer of the tear film work together to maintain clear vision and ocular health. An intact lipid layer ensures tears do not evaporate and keeps the eyes moisturized and nourished. If this layer is disturbed, it leads to tears evaporating too quickly, drying out the ocular surface and resulting in damage to the front of the eye, discomfort, and a significant reduction in both quality of life and productivity.