LOS ANGELES: SpyGlass Pharma has closed a $75 million Series D financing round to advance its ophthalmic Drug Delivery Platform, the company announced Monday.
The round was led by Sands Capital, with participation from Gilde Healthcare and existing investors, including New Enterprise Associates, RA Capital, Vensana Capital, Samsara BioCapital and Vertex Ventures HC.
The funding will support the platform’s progression through two registrational Phase III trials, set to begin later this year.
“We appreciate the strong support from our new and existing investors, underscoring their confidence in our innovative Drug Delivery Platform,” CEO Patrick Mooney said in a statement.
“We are excited to advance our platform through pivotal Phase III trials as we accelerate our commitment to addressing significant unmet needs for ophthalmic patients.”
SpyGlass’ platform aims to offer long-term medical therapy for glaucoma and other chronic ophthalmic diseases. Dr. Malik Y. Kahook, co-founder and president, said the technology represents “a paradigm shift” in treating such conditions.
Jake Merrill, principal at Sands Capital, said the firm believes SpyGlass’ intraocular drug delivery technology will set a “new standard of care” for glaucoma, a leading cause of irreversible blindness worldwide.