Clearside Biomedical just closed a $20 million C round to further clinical work on its drug-device combination that treats a range of vision disorders.
Investors include Aju IB Investment, Cormorant asset Management, Perceptive Advisors, Springs Capital Management and others.
Clearside is developing therapies for diseases that cause blindness like wet age-related macular degeneration, retinal vein occlusion and uveitis. It has a proprietary “superchoroidal space” microinjector that delivers corticosteroid drugs to the posterior segment of the eye.
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Clearside has three clinical trials for macular edema underway using CLS-TA, its proprietary formulation of the steroidal drug triamcinolone acetonide that’s been developed to work with the company’s microinjector. It’s enrolling patients with macular edema associated with non-infectious uveitis in both a Phase 2 and Phase 3 trial at present. It’s also in the midst of a Phase 2 trial for macular edema associated with retinal vein occlusion.
[Image courtesy of Flickr user Andrew M. Butler]
