Ocular Therapeutix: $23.8m in new funding will help advance eye therapies

Ocular Therapeutix Inc., a Bedford company looking to use is proprietary hydrogel technology to commercialize treatments for eye ailments, said Monday that it recently closed a Series D extension round of financing totaling $23.8 million.

All existing institutional investors, including Polaris Ventures, Versant Ventures, SV Life Sciences, Sparta LLC, and Ascension Health Ventures participated in the round, Ocular Therapeutix said in a press release.

The company said it has raised about $65 million to date.

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Ocular Therapeutix plans to use the funding to advance drug candidates in its pipeline.

They include travoprost, which is designed to treat glaucoma, and dexamethasone, which looks to relieve post-operative inflammation and pain.

The funds will also be used to develop sustained release therapies for retinal diseases in collaboration with pharma partners, Ocular Therapeutix said.

Another product the company is working on is called ReSure Sealant, which would be used to seal clear corneal incisions following lens implantation surgery.

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