SOURCE: EyeGate Pharma
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March 12, 2008 10:00 ET
EyeGate Pharma Secures $15M in Series C Venture Funding
Prepares for Two Phase II Clinical Studies in Severe Uveitis and Dry Eye
WALTHAM, MA--(Marketwire - March 12, 2008) - EyeGate Pharma, a privately held, specialty
pharmaceutical company using iontophoresis technology to safely and
non-invasively deliver therapeutics into the front and back of the eye for
treating serious ocular diseases, today announced that the company has
secured $15 million in a Series C venture financing round. New investor,
Medicis Capital, joins existing investors Ventech, Innoven Partenaires and
The Nexus Group. This funding brings the total venture investment in
EyeGate to $31 million to date.
Stephen From, President and Chief Executive Officer of EyeGate Pharma,
commented, "With this venture financing, EyeGate will enter into two Phase
II clinical studies utilizing the EyeGate II Delivery System and a
proprietary formulation of a corticosteroid. In the first half of 2008 we
will initiate a Phase II trial in severe uveitis, and in the second half of
the year we will initiate a Phase II trial in dry eye. EyeGate is well on
its way to becoming a leader in ophthalmic drug development and the
delivery partner of choice for ophthalmic drug developers."
Alain Maiore, Managing Partner of VenTech, added, "This is a very important
time for EyeGate as the company readies itself for clinical development of
two ophthalmology indications. Over the past year, EyeGate has optimized
its ocular delivery platform -- the EyeGate® II Delivery System, and
built on its strong intellectual property position. This platform was
developed to deliver a wide range of therapeutics, giving EyeGate the
ability to quickly develop a pipeline of commercially attractive
compounds."
About Medicis Capital
Medicis provides capital to innovative teams and companies in the life
sciences and healthcare market. The firm's mission is to provide their
market know how as well as their distinctive financial and business network
to companies employing cutting edge life science technologies or novel
health management concepts and/or systems. Jointly with their portfolio
companies, they strive to improve the quality and efficiency of the life
science and healthcare market. To reach Medicis, visit www.medicis.de.
About EyeGate Pharma
EyeGate Pharma was founded in 1999 with technology licensed from Bascom
Palmer Eye Institute at the University of Miami. EyeGate's transscleral
(across the sclera, or white protective outer membrane of the eye)
iontophoresis delivery platform, the EyeGate® II Delivery System, was
developed to safely deliver a wide range of therapeutics to both the
anterior (front) and posterior (back) chambers of the eye. An 89-patient
clinical study, using the company's first-generation delivery device,
demonstrated significant decreases in inflammatory markers and concurrent
increases in visual acuity. A typical application takes less than five
minutes and has been shown to be extremely well tolerated in patients
suffering from severe uveitis and other inflammatory ocular diseases.
Clinical studies utilizing the EyeGate® II Delivery System are scheduled
to begin in the first half of 2008. For more information please visit
www.eyegatepharma.com.