Kala raises $22.5 million series B
Kala Pharmaceuticals Inc. (Waltham, Mass.) raised $22.5 million in a series B round led by new investor Ysios Capital. An undisclosed new strategic investor also participated along with existing investors Crown Venture Fund; Lux Capital; Polaris Partners; and Third Rock Ventures. Ysios' Karen Wagner will join Kala's board.
Kala is developing a pipeline of topical ophthalmic products based on its mucosal penetrating particle (MPP) technology, which is designed to achieve high, sustained local drug concentrations with low systemic exposure. The company's lead program is LE-MPP, which is a formulation of the steroid loteprednol etabonate. This year, Kala plans to start a Phase III trial to treat postoperative inflammation and pain following cataract surgery; and Phase II trials to treat dry eye disease, blepharitis and diabetic macular edema and retinal vein occlusion. ...