Surface Raises $20 Million in Series A Financing from Flying L Partners

May 18, 2018: By Jon Swedien

Surface Pharmaceuticals has entered into a definitive stock purchase agreement with an affiliate of Flying L Partners to raise about $20 million in a Series A financing, parent Imprimis Pharmaceuticals announced May 15.

Surface plans to use the money to advance its clinical development programs for ocular surface disease, including dry eye and blepharitis. The company is seeking US FDA approval for three drug candidates for up to five indications.

Surface’s pipeline has two topical drop candidates, SURF-100 and SURF-200, that use a patented delivery vehicle, Klarity, invented by ophthalmologist Richard Lindstrom, MD, a board member of Surface and Imprimis. Lindstrom is also a member of Flying L Partners.

The company’s third drug candidate, SURF-300, is a patent-pending oral capsule that also targets patients suffering from ocular surface diseases, the company said.

While parent Imprimis offers proprietary compounded formulations, Surface’s business model is focused on securing FDA approval for its candidates, the company said.

Flying L Partners is a partnership of investors with experience in the ophthalmic sector. William Link, PhD, is the group’s principal. The other partners are Andy Corley and Matthew Larson.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

US Health Secretary Alex Azar Takes Aim at Rebates in US Senate Hearing

Beyeonics Surgical Raises $11.5 Million in Initial Funding Round

MeiraGTx Raises $75 Million in Initial Public Offering

GenSight to Pursue Approval for LHON Gene Therapy Candidate, Despite Phase III Setback

Optovue Receives FDA Clearance for AngioAnalytics, First OCT Angiography Metrics

Nexy Robotic Retinal Imaging System Receives FDA Clearance

Ocutrx Receives US Patent for Oculenz AR Glasses for Macular Degeneration

Allergan’s Bimatoprost SR Demonstrates Noninferiority to Timolol in Phase III Glaucoma Study

KKR to acquire Envision Healthcare, Including Amsurg ASC Business

Ophthalmologist Carmen Puliafito, MD, Seeks to Regain Medical License

Avedro Gains J Code for Photrexa Formulations in Preliminary CMS Decision

EyeGate Seeks to Study Ocular Bandage Gel in Punctate Epitheliopathy

Nicox, Ironwood to Collaborate on Novel Ophthalmic Treatments

US FDA Approves MDGH’s Moxidectin for Treatment of River Blindness

Bausch + Lomb Enrolls First Patient in Trial for enVista MX60EF Trifocal IOL

Cincinnati Eye Institute Partners with Private Equity Firm to Pursue National Expansion

Ophthotech Enters Gene Therapy Deals with University of Florida, University of Pennsylvania

Teva’s Launches Generic Version of Restasis in Canada

Clearside’s Phase II Trial for DME Candidate Meets Primary Endpoint

Orasis Raises $13 Million in Series B Financing

Coming soon

2018 Glaucoma Device Report: A Global Market Analysis for 2017 to 2023