Iconic Therapeutics snags $40M for eye disease R&D

Iconic CEO William Greene

South San Francisco's Iconic Therapeutics raised $40 million in Series C cash to support its work on treatments for eye cancer, moving toward clinical trials with its ocular melanoma program.

The round added HBM Healthcare Investments, Cormorant Asset Management and Osage University Partners to Iconic's syndicate of MPM Capital, H.I.G. Capital and Lundbeckfond Ventures.

With the new funds, Iconic is pushing its lead molecule ICON-1 into clinical trials in ocular melanoma, the company said, with plans to launch midstage trials in ocular melanoma.

"Backed by this strong group of premier life science investors, we intend to continue to leverage our deep understanding of the tissue factor pathway as we develop new molecules, new indications, and new approaches to devastating diseases," Iconic Therapeutics CEO William Greene said in a statement.

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