WALTHAM, MA--(Marketwire - January 5, 2011) - EyeGate Pharma, a privately held venture-backed pharmaceutical company developing ocular therapeutics, announces today that it has secured an additional $5.9M as part of its Series D closing. With this additional tranche, Eyegate has raised a total of $28.5M in Series D funding to date.
The funds will be used to continue development of EGP-437 for the treatment of Dry Eye Syndrome (DES), an ocular surface irritation affecting several million men and women in the United States. EGP-437 is a dexamethasone derived corticosteroid solution specially formulated for delivery using the EyeGate® II Delivery System. EGP-437 is part of EyeGate's broader strategy of developing a pipeline of medicines for treating ocular diseases using its proprietary EyeGate® II Delivery System, a non-invasive, iontophoretic drug delivery system.
Currently, the ALLUVION Phase III study of EGP-437 in patients with DES is fully enrolled, awaiting last patient last visit, and top-line data, which is expected by the end of the first quarter 2011. A prior Phase II study demonstrated significant improvements in the signs and symptoms of dry eye during and after Controlled Adverse Experiment (CAE) exposure. EyeGate is the first company to complete Phase II studies using iontophoresis technology to deliver an active compound into the eye under an investigational new drug (IND) application.
At 2:30 pm on Tuesday, January 11, 2011, Stephen From, President and CEO of EyeGate Pharma, will speak at the Biotech ShowcaseTM 2011, which is being held in San Francisco. The Biotech ShowcaseTM provides life science companies the opportunity to present to an audience of investors and business development executives.
About Iontophoresis as a Drug Delivery Approach
The EyeGate® II Delivery System works through the process of iontophoresis: an active method of drug delivery in which an electrical field created by a low-level of electrical current is used to ionize a drug and to modify the permeability of the cells so that the drug can be delivered through different tissues to the target areas. These principles can be applied to both anionic and cationic molecules. To deliver a therapeutic to both the anterior (front) and posterior (back) tissues of the eye, the drug must be specifically adapted and formulated for iontophoretic delivery. EyeGate has concentrated its efforts on optimizing the EyeGate® II Delivery System to administer a wide range of therapeutics and developing a highly specialized laboratory dedicated to formulating drugs for iontophoretic delivery.
About EyeGate Pharma
Eyegate Pharmaceuticals, Inc. is focused on developing treatments for unmet ocular medical needs by employing the EyeGate® II Ocular Drug Delivery System, a non-invasive drug delivery technology. The EyeGate® II delivery system is compatible with a wide range of therapeutics; therefore, it has the potential to address many anterior and posterior segment diseases. EyeGate Pharma is the first company to demonstrate clinical significance utilizing iontophoresis and the EyeGate® II delivery system has been studied in over 350 subjects (over 1,200 treatments performed). The Company has completed randomized, double-masked Phase II clinical studies in both dry eye and uveitis studying its lead product candidate (EGP-437), and awaits results of a Phase III study (ALLUVION) in dry eye patients. EyeGate has ongoing relationships with other biotech and pharmaceutical companies (e.g., RXi). For more information, please visit www.eyegatepharma.com.