Updated on 1 February 2013
Santen's funding will help Clearside Biomedical to further its pipeline in ocular choroidal neovascularization and inflammatory diseases
Singapore: Santen, a wholly owned subsidiary of Japan-based Santen Pharmaceuticals, and Clearside Biomedical, announced that Santen, has made an investment in Clearside Biomedical and has also entered into a research collaboration agreement for posterior ocular diseases.
Santen will join with other investors to fund an additional $7.9 million for continued development of CLS1001 into pivotal testing and to further Clearside Biomedical's pipeline in ocular choroidal neovascularization and inflammatory diseases of the posterior segment. Santen along with new investor, Mountain Group Capital and its affiliates, join current investors Hatteras Venture Partners, Georgia Research Alliance Venture Fund, and Kenan Flagler Business School Private Equity Fund.
"Clearside Biomedical's proprietary microinjection platform provides a novel access to the retina and choroid and may provide improvements in delivering drugs to the site of retinal diseases via the suprachoroidal space through an in-office injection procedure," said Dr Quan Dong Nguyen, McGaw Professor and chairman of the Department of Ophthalmology and Visual Sciences and director of the Stanley M Truhlsen Eye Institute at the University of Nebraska Medical Center.
Clearside Biomedical microinjection process allows eyecare professionals to treat patients in their offices without complicated surgical techniques. The US Food and Drug Administration (FDA) has allowed Clearside Biomedical to pursue testing related to Clearside's Investigational New Drug (IND) Application for CLS1001 (triamcinolone acetonide) Suprachoroidal Injectable Suspension. This IND would treat sympathetic ophthalmia, temporal arteritis, uveitis and ocular inflammatory conditions unresponsive to topical corticosteroids. Clinical testing is scheduled to proceed in the first quarter of 2013.
"I cannot imagine a better alliance as we continue to understand the role the suprachoroidal space will play in dosing medicine directly to the site of retinal disease in patients experiencing retinal blindness," remarked Mr Daniel White, president and CEO of Clearside Biomedical. "The collaboration with Santen prepares an avenue to develop state-of-the art medications for the critical treatment of sight-threatening disease."