Connect with us

Headlines

$93M Raised for Dry Eye Drug Development

It will ‘bring us a step closer to offering much needed relief’ to patients.

mm

Published

on

PRINCETON, NJ — Oyster Point Pharma Inc., a pharmaceutical company developing therapies for dry eye disease, has raised $93 million in funding.

The Series B financing round was co-led by Invus Opportunities and Flying L Partners in collaboration with Falcon Vision. Existing investors New Enterprise Associates and Versant Ventures, as well as new investor Vida Ventures, participated in the round.

What’s Really Up with Vision Expo in 2021?
INVISION Podcast

What’s Really Up with Vision Expo in 2021?

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop
INVISION Podcast

Podcast: Talking with the Finest, Hippest of Them All About Why There are No Ball Point Pens in Her Shop

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]
INVISION Podcast

Licensed or Not, Member or Not, the Opticians Association of America is Here for You [Podcast]

“Our team sees immense promise in this investment given Oyster Point’s encouraging clinical evidence, the potential market size, and the leadership team’s extensive experience developing and commercializing ophthalmology therapies,” said Benjamin Tsai of Invus Opportunities. “We believe Oyster Point’s therapies will redefine the standard of care for Dry Eye Disease, a condition that affects millions of people.”

Oyster Point will use the proceeds to support the development of its product portfolio for dry eye disease, explore new treatment areas and add key talent. The company’s lead product candidates, known as OC-01 and OC-02, “are delivered via an ocular surface-sparing nasal spray designed to stimulate the trigeminal parasympathetic pathway to promote natural tear film production,” according to a press release.

“In Phase 2b clinical studies, patients administered either OC-01 or OC-02 experienced rapid and significant improvements in both the signs and symptoms of Dry Eye Disease,” according to the release. “Both were well-tolerated with no significant ocular adverse events or drug-related serious adverse events.”

“Having spent decades leading and investing in ophthalmology companies, it’s exciting to see continued innovation and leadership in this space, especially in an area of such high unmet need as Dry Eye Disease,” said William Link of Flying L Partners. “We look forward to supporting the team at Oyster Point as they progress into Phase 3 clinical development, plan for commercialization, and advance additional pipeline assets.”

Advertisement

Jeffrey Nau, president and CEO of Oyster Point, said, “We are grateful to our investors for their partnership and look forward to initiating a Phase 3 clinical development program for Dry Eye Disease. Our novel approach to empower patients with Dry Eye Disease to stimulate their own natural tears has tremendous potential. This financing will bring us a step closer to offering much needed relief to patients in an area that has limited treatment options.”

Since launching in 2014, INVISION has won 23 international journalism awards for its publication and website. Contact INVISION's editors at [email protected].

Advertisement

SPONSORED VIDEO

SPONSORED BY TOPCON HEALTHCARE

With Topcon RDx® Now You Can

Introducing Topcon RDx®, a comprehensive eye health exam platform that incorporates automated and remote capabilities for your diagnostic instruments. Grow your practice beyond your physical location and deliver quality eye exams from virtually anywhere.

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Most Popular