Ophthalmic play Graybug raises $44.5M

Graybug Vision Inc. (Redwood City, Calif.) raised $44.5 million in a series B round led by new investor Deerfield. New investors OrbiMed Advisors and Clarus Ventures also participated, along with existing investor Hatteras Venture Partners.

Graybug plans to begin a Phase I/II study early next year of GB-102 to treat wet age-related macular degeneration (AMD). President and CEO Jeffrey Cleland said that by 4Q17, Graybug hopes to start the Phase II portion of the trial, which would be designed to demonstrate non-inferiority to Eylea aflibercept from Regeneron Pharmaceuticals Inc. (NASDAQ:REGN). ...