ALPHARETTA, Ga.--(BUSINESS WIRE)--Clearside Biomedical, Inc., a clinical-stage biopharmaceutical company developing innovative first-in-class drug therapies to treat blinding diseases of the eye, today announced the closing of a $20 million Series C financing. The financing included new investors Aju IB Investment, Cormorant Asset Management, Perceptive Advisors and Rock Springs Capital Management, along with existing Clearside investors. Trout Capital LLC served as an advisor to Clearside.
"We are delighted to add this outstanding group of pre-eminent scientific and life science investors as financial partners to Clearside," said Daniel H. White, CEO and President of Clearside. "This financing is another step in the further clinical development of Clearside's pipeline to treat blinding diseases like uveitis, retinal vein occlusion and wet age-related macular degeneration using Clearside's proprietary SCS™ (suprachoroidal space) Microinjector to administer drug to the posterior segment of the eye."
Presently, Clearside has three ongoing clinical trials using CLS-TA, Clearside's proprietary formulation of triamcinolone acetonide developed specifically for administration using the SCS™ Microinjector. Clearside has initiated the enrollment process in the Phase 3 clinical trial (Peachtree) for the treatment of patients with macular edema associated with non-infectious uveitis. Clearside's Phase 2 trial, Tanzanite, is assessing the efficacy and safety of CLS-TA used concomitantly with an intravitreal injection-delivered VEGF inhibitor in patients with macular edema associated with retinal vein occlusion. Clearside recently completed enrollment of the third trial, Dogwood, a Phase 2 trial evaluating the safety and efficacy of CLS-TA in patients with macular edema associated with non-infectious uveitis.
About Clearside Biomedical, Inc.
Clearside Biomedical, Inc., headquartered in Alpharetta, GA, is a clinical-stage biopharmaceutical company developing innovative first-in-class drug therapies to treat blinding diseases of the eye using Clearside's proprietary microinjector to reach diseased tissue through the SCS™. Clearside holds intellectual property protecting the delivery of drugs of any type through the SCS to reach the back of the eye. Visit www.clearsidebio.com for more information.