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.

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