OKYO Pharma Secures $1.9 Million in Non-Dilutive Funding to Advance Urcosimod for Neuropathic Corneal Pain
OKYO Pharma has announced the receipt of $1.9 million in non-dilutive funding to support the ongoing clinical development of urcosimod (formerly OK-101), the company’s lead drug candidate for the treatment of neuropathic corneal pain (NCP). This financial milestone is expected to drive forward key research initiatives without diluting shareholder value.
Funding to Accelerate Urcosimod’s Clinical Progress
According to OKYO Pharma, the newly secured funding will be used to advance clinical milestones, expand research and development programs, and build regulatory momentum for urcosimod. The non-dilutive nature of the funding allows the company to maintain its capital structure while intensifying efforts to bring this innovative therapy closer to market.
In a company press release, Gary S. Jacob, PhD, CEO of OKYO Pharma, commented:
“This non-dilutive funding is a significant milestone for OKYO Pharma and allows the company to drive innovation and accelerate solutions that could improve patient outcomes. These funds allow us to aggressively pursue our mission of bringing urcosimod to patients who desperately need relief, without diluting shareholder value.”
Urcosimod: A First-in-Class Approach for NCP
Urcosimod is a lipid-conjugated chemerin peptide agonist that targets the ChemR23 G-protein coupled receptor, which is expressed on immune cells involved in ocular inflammation as well as on neurons and glial cells in the dorsal root ganglion. This dual mechanism positions urcosimod as a unique therapeutic candidate for the management of neuropathic corneal pain, a condition with few effective treatment options.
The company recently reported positive top-line results from a phase 2 proof-of-concept trial, which evaluated urcosimod in patients with NCP. The randomized, double-masked, placebo-controlled study was conducted at a single site at Tufts Medical Center in Boston, Massachusetts, with Dr. Pedram Hamrah, a leading authority on NCP, serving as the principal investigator.
Phase 2 Results and Development Outlook
Although the trial was originally planned to enroll 48 patients, it was closed early in April 2025 after 17 patients completed the study. OKYO Pharma cited a “strong desire to unmask the clinical data for an early read-out on a drug effect” as the reason for early closure. The top-line results demonstrated encouraging safety and efficacy findings, reinforcing the therapeutic potential of urcosimod.
Looking ahead, the company has confirmed plans to accelerate the clinical development of urcosimod, with additional trials anticipated in the near future.
