Azura Nets $16 Million in Series B Funding for Dry Eye Treatment

October 12, 2017: By Jon Swedien

1 Ophthalmic NewsAzura Ophthalmics has completed a $16 million Series B funding round that will enable it to further develop its dry eye disease treatment candidates, the Israeli company announced Oct. 10.

Azura is developing a portfolio of compounds in combination with a novel drug delivery platform designed to treat meibomian gland dysfunction (MGD), the leading cause of dry eye disease, the company said.

The firm also is preparing for a Phase IIa trial of a drug therapy that has shown efficacy in an initial clinical proof of concept study.

The round was led by a syndicate of OrbiMed, TPG Biotech, and Brandon Capital’s Medical Research Commercialisation Fund, with participation from an existing investor, Ganot Capital.

The company also announced Oct. 10 that Anat Naschitz of OrbiMed, Heather Preston of TPG Biotech, and Chris Nave of Brandon Capital will join the company’s board of directors.

The board also includes Guy Katsav of Ganot Capital, Azura CEO Marc Gleeson, and Yair Alster, MD, Azura’s founder and chief technology officer.

Alster previously co-founded several companies, including Forsight Vision 4 (sold to Roche-Genentech), Forsight Vision 5 (sold to Allergan), and Notal Vision, a commercial stage company.

Gleeson spent 14 years at Allergan as vice president of global marketing for ophthalmology, and then he joined Oculeve.

Azura has also named Charles Bosworth, formerly of Allergan, as its chief medical officer.

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