Oculis Secures CHF 15.5 Million in Series B+ Financing to Advance Ophthalmic Drug Pipeline

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that Swiss pharmaceutical company Oculis recently completed its Series B+ financing round, raising CHF 15.5 million. The round was led by Tekla Capital Management, with participation from Nan Fung Life Sciences and Oculis’s existing investors.

It is reported that this round of financing will be used to expand Oculis’s investment activities and primarily drive the development of its pipeline of novel topical (eye drop) therapeutics for ophthalmic diseases.

Oculis is a clinical-stage biopharmaceutical company based in Sweden, dedicated to the research and development of therapeutics for various ophthalmic diseases. The company has developed a novel technology that enhances local ocular drug absorption and facilitates drug delivery, enabling the treatment of posterior segment eye diseases through simplified administration routes.

This technology is known as Solubilizing Nanoparticle (SNP) technology. SNP technology utilizes specific cyclodextrin compounds to obtain stable formulations containing drug/cyclodextrin composite nanoparticles. These formulations enhance the solubility of pharmaceutical agents in tears, thereby facilitating ocular drug delivery. Meanwhile, the stable formulations of drug/cyclodextrin composite nanoparticles can sustain their therapeutic effect after penetrating the mucosal layer, increasing drug permeation and bioavailability in ocular tissues.

SNP technology addresses the limitation of low drug solubility in commercially available eye drops and overcomes the inability of traditional eye drops to deliver medications to the retina. Clinical data indicate that SNP technology indeed paves the way for formulating ophthalmic drugs, offering well-tolerated topical treatments for retinal diseases such as diabetic macular edema (DME).

Dr. Riad Sherif, CEO of Oculis, stated regarding the SNP technology: “The SNP technology, meticulously developed by the founders of Oculis, enhances the formulation capacity of eye drops and improves bioavailability in posterior ocular tissues. This breakthrough technology ushers in a new era in ophthalmology, bringing significant benefits to patients with eye diseases.”

Oculis’s most rapidly advancing clinical topical drug candidates are OCS-01 and OCS-02. OCS-01, developed using Soluble Nanoparticle (SNP) technology, is indicated for the treatment of diabetic macular edema (DME) and post-cataract surgery inflammation, and has currently entered Phase II clinical trials. OCS-02 is potentially the first topical anti-TNFα therapy for ophthalmic indications, specifically designed for the local delivery of single-chain antibody fragments. Currently in Phase II clinical development, it has demonstrated promise in treating anterior segment inflammation, such as dry eye disease, in previous controlled clinical trials.

Professor Einar Stefánsson, Co-Founder of Oculis, commented, “Oculis is treating retinal diseases with eye drops, providing a comfortable and acceptable treatment option for millions of potential patients with retinal diseases.”

Oculis was founded in 2003 and has completed eight rounds of financing to date, with the first five rounds consisting of targeted grants from the Technology Development Fund. The company closed its Series A financing on August 16, 2016, with the amount undisclosed; it then raised CHF 20 million in its Series B round on January 4, 2018. The total cumulative funding currently amounts to approximately USD 36 million.

Tekla Capital Management is a venture capital firm based in Boston, United States, primarily investing in public or private healthcare companies. The firm manages four closed-end funds, which have a fixed number of shares traded on stock exchanges. These four funds are Tekla Healthcare Investors, Tekla Life Sciences Investors, Tekla Healthcare Opportunities Fund, and Tekla World Healthcare Fund.

Nan Fung Life Sciences, established in 2017 and headquartered in Hong Kong, China, is part of the Nan Fung Group and operates as a global investment platform focused on life sciences. The company aims to partner with enterprises in the life sciences sector, covering therapeutic, diagnostic, and medical device fields. It has completed 36 investments to date.