Ophthalmic play Kala raises $68M in series C

Kala Pharmaceuticals Inc. (Waltham, Mass.) raised $68 million in a series C round led by new investor Longitude Capital. New investors included OrbiMed, Vivo Capital and CAM Capital also participated, along with existing investors that included RA Capital Management, Wellington Management, Polaris Partners, Lux Capital and Crown Venture Fund.

Kala is developing topical ophthalmic products based on its mucosal penetrating particle (MPP) technology, which is designed to deliver high, sustained local drug concentrations with low systemic exposure. ...