An Oxford听BioTech has raised 拢27 million to treat diabetic macular edema.听
The investment听into听Oxular, led by specialist life sciences investor听Forbion,听will fund Phase 2 human clinical studies evaluating听its听12-month treatment for听the eye disease affecting people with diabetes.听
DME is a serious retinal disease that affects 24 million people globally and is the leading cause of blindness in young adults in developed countries.听听
A key challenge facing patients with DME is the need for frequent clinic visits for repeated treatment injections. To address this, OXU-001, an innovative, sustained-release formulation of dexamethasone, provides up to 12 months鈥� treatment effects following a single administration.听听
Dexamethasone is a well-known, safe and effective treatment for inflammatory retinal diseases, including DME.听
翱虫耻濒补谤鈥檚听products include听Oxuspheres, a drug-containing biodegradable polymer system, designed as an adjustable, sustained release formulation, and听Oxulumi, a听semi-automated ocular administration device utilising an advantageous route of administration to deliver therapeutics for the treatment of retinal diseases.听听
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Forbion听is a dedicated European life sciences venture capital firm that manages over 鈧�1.7 billion of investments and works closely with entrepreneurs to build life sciences companies that will change the future of medicine. In the financing,听Forbion听were joined by existing investors IP Group, NeoMed, and V-Bio Ventures.听听
鈥淲e are pleased to add such a renowned investor as听Forbion听to our already supportive investor base, including IP Group, NeoMed, and V-Bio Ventures,鈥� said CEO听Thomas Cavanagh.听听
鈥淭hese are experienced healthcare investors who see the potential of听翱虫耻濒补谤鈥檚听disruptive technology and innovative treatment approach 鈥� which is, tissue-specific delivery of potent drug products that safely provide up to 12-months鈥� treatment durability for retinal disease.听听
鈥淭hrough longer-lasting treatments and better efficacy, safety and delivery we aim to offer retinal patients truly life-changing solutions to their unmet needs.鈥�听
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Proceeds from the financing will also accelerate development of听翱虫耻濒补谤鈥檚听early-product pipeline, while building its team to support future clinical trials and expanded R&D activities. The听company plans to progress a novel treatment for Retinoblastoma into Phase 2 human clinical studies in 2022.听听
Dr.听Dmitrij听Hristodorov, Principal at听Forbion, will join the听Oxular听board.听
鈥�Oxular听has built an exceptional platform that has the potential to unlock the full therapeutic potential of potent molecules and significantly improve patients鈥� lives by providing safe, efficacious and convenient treatment options,鈥� he said.听听
鈥�We听are pleased to lead this financing round and look forward to seeing the progress that the team at听Oxular听makes over the coming years, in both its clinical and preclinical programs.鈥�听