Oxular Completes Financing Round Worth $37 million

Retinal therapeutics development company, Oxular, has announced in a March 1, 2021 press release that it has raised US $37 million in a financing round led by specialist life sciences investor, Forbion.

The monies raised will be used to fund Phase II clinical studies evaluating the company’s 12-month treatment for diabetic macular edema (DME), OXU-001. The studies are expected to start later in 2021. Additionally, funds will be allocated to progressing the company’s early-product pipeline.

“We are pleased to add such a renowned investor as Forbion to our already supportive investor base, including IP Group, NeoMed, and V-Bio Ventures,” said Thomas Cavanagh, CEO of Oxular, in the press release. “These are experienced healthcare investors who see the potential of Oxular’s disruptive technology and innovative treatment approach—which is tissue-specific delivery of potent drug products that safely provide up to 12-months’ treatment durability for retinal disease.”

“Oxular has built an exceptional platform that has the potential to unlock the full therapeutic potential of potent molecules and significantly improve patients’ lives by providing safe, efficacious and convenient treatment options,” added Dr. Dmitrij Hristodorov, principal at Forbion and non-executive director at Oxular, in the press release. “We are pleased to lead this financing round and look forward to seeing the progress that the team at Oxular makes over the coming years, in both its clinical and preclinical programs.”

Source: Oxular