IP Group and V-Bio have backed a round that will support phase 2 trials for a treatment for diabetic macular edema.
Oxular, a UK-based retinal therapeutics developer, received $37m in a funding round yesterday backed by commercialisation firm IP Group and V-Bio Ventures, a venture fund affiliated with VIB.
Venture capital firm Forbion Capital Partners led the round, which also featured investment firm NeoMed.
Founded in 2014 as Precision Ocular, Oxular is developing therapies for retinal disease. Its drug administration technology is able to continuously deliver formulations over the course of up to a year and directly to the relevant tissue in the eye.
The company’s pipeline includes assets aimed at conditions such as diabetic macular edema and age-related macular degeneration, as well as other indications, including ocular cancers.
The funding has been allocated to the phase 2 clinical development of Oxular’s lead programme, OXU-001, targeting diabetic macular edema, the leading cause of blindness in young adults. It will also support an accelerated development of its early-stage…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
