SpyGlass Pharma Secures $90M Financing to Advance Novel Treatments for Glaucoma
SpyGlass Pharma has successfully closed a Series C financing round, raising $90 million. RA Capital Management led the funding round, joined by existing investors New Enterprise Associates (NEA) and Vensana Capital, as well as new investors Samsara BioCapital and Vertex Ventures HC.
With this funding, the company plans to conduct several clinical trials in the United States, focusing on its innovative drug delivery platform, the SpyGlass system. By implanting the SpyGlass system during routine cataract surgery, the company aims to address significant unmet needs in glaucoma management and other chronic ophthalmic diseases, potentially providing multiple years of medical therapy.
“The strong support from our investors validates the potential of the SpyGlass drug delivery platform to meet significant unmet needs for ophthalmic patients and their eye doctors. This round of financing puts the SpyGlass program on a clear path towards Phase 1/2 and Phase 3 clinical trials to support US registration,” said Patrick Mooney, CEO of SpyGlass Pharma.
“We believe our approach represents a paradigm shift in the treatment of eye diseases, such as glaucoma, with significant advantages compared to currently commercialized therapies,” said Dr. Malik Y. Kahook, MD, Co-Founder and President of SpyGlass Pharma. “The efficacy and safety demonstrated from the first-in-human feasibility trial showing 45% mean IOP-lowering in glaucoma patients, with 100% of subjects off all topical medication 9 months after implantation, is remarkable.”
“We’re thrilled to lead this financing round to advance SpyGlass’ platform technology through the next phases of clinical development,” said Zach Scheiner, Ph.D., Principal at RA Capital Management. “There remains a huge unmet need for novel technologies that safely address the challenge of patient adherence in treating glaucoma and other chronic eye diseases. SpyGlass has developed an elegant solution and generated impressive nonclinical and first-in-human data that show great promise for improving patient care and treatment outcomes.”
About SpyGlass Pharma
SpyGlass Pharma, co-founded by Dr. Malik Y. Kahook, MD, and Glenn Sussman, is dedicated to developing a groundbreaking drug delivery platform. This platform is the first of its kind, capable of delivering controlled release therapy for multiple years, and is mounted on an intraocular lens (IOL). The technology originated at the Sue Anschutz-Rodgers Eye Center of the University of Colorado School of Medicine and was spun off from the campus following Series A funding provided by New Enterprise Associates.
