It's working on a drug for pink eye.

Pharmaeutical company Kogen Inc., which is working on a drug to treat pink eye, has raised $10 million in funding.

The investment comes from Brandon Capital’s Medical Research Commercialisation Fund.

"There are no approved therapies for viral conjunctivitis, and patients frequently receive antibiotics despite their lack of efficacy in treating viral infections and potential to cause antibiotic resistance," said Brian M. Strem, CEO of Okogen. "Safe and effective treatment options are needed to address this highly contagious and common infection, and we believe that [drug candidate] OKG-0301 has substantial clinical and commercial potential in this indication."

The Series A funding will support the launch of a Phase 2 clinical trial before the end of the year, he said.

The drug candidate is described as "is an ophthalmic formulation of ranpirnase, a potent ribonuclease with established broad-spectrum antiviral properties." It will initially be evaluated for adenoviral conjunctivitis, the No. 1 cause of eye infections globally. 

Okogen Board Director and MRCF Investment Manager Chris Smith said, “Our investment in Okogen demonstrates our belief in the company’s technology, team and potential to positively impact the lives of millions of patients.”

Okogen also announced the appointment of Quinton Oswald to the board of directors. Oswald currently serves as the president and CEO of Notal Vision, a commercial-stage ophthalmic company focused on age-related macular degeneration.

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