Santen, an Emeryville, Calif.-based subsidiary of Japan-based Santen Pharmaceuticals, has entered into a research collaboration agreement with Clearside Biomedical of Alpharetta, Georgia, a company in which Santen, along with other financial backers, is also making an investment. Specifically, Clearside’s “microinjection platform,” which provides access to the retina and choroid, just attracted $7.9 million in fresh funding from Santen, Mountain Group Capital, Hatteras Venture Partners, Georgia Research Alliance Fund, and Kenan Flagler Business School Private Equity Fund.
EMERYVILLE, Calif. & ALPHARETTA, Ga., Jan 31, 2013 (BUSINESS WIRE) — Santen Inc., a wholly owned subsidiary of Santen Pharmaceuticals Co., Ltd. (Osaka, Japan, Ticker Code 4536JP), and Clearside Biomedical, Inc. announced today that Santen Ltd., the parent company of Santen Inc., has made an investment in Clearside Biomedical Inc. 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 Quan Dong Nguyen, MD, MSc, incoming 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. “Through joint research with Santen, one of the leading companies in the ophthalmic technologies, it is hopeful that such collaboration will result in new approaches for the treatment of various back of the eye diseases.”
“Santen is committed to discovering and developing innovative therapies for the treatment of retinal disease. Our partnership with Clearside Biomedical provides a unique option in medical treatment for the difficult to treat posterior ocular diseases,” said Schalon Newton, DM, Vice President of Strategic Marketing and Business Development.
Clearside Biomedical is an ophthalmic pharmaceutical company that develops and commercializes products to treat retinal blindness by delivering therapeutics through the suprachoroidal space to access the retina and choroid using a proprietary microinjection dosage form. This microinjection process allows eye care professionals to treat patients in their offices without complicated surgical techniques. The U.S. 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 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.”
Hatteras Venture Partners, with participation from the Georgia Research Alliance Venture Fund, and Kenan Flagler Business School Private Equity Fund, will return for a follow-up investment into Clearside Biomedical along with new investor Mountain Group Capital and its affiliates. “The current investors have been delighted with the progress of Clearside Biomedical. The collaboration with Santen, a premier ophthalmology company in Japan known for outstanding science, is further testament that Clearside is supported with internationally regarded technology that meets a real need. With an IND filing less than 12 months from our initial investment, Clearside has also shown that it can rapidly translate its novel technology into clinical products,” said Christy Shaffer, Ph.D., Venture Partner and Managing Director of Hatteras Discovery and a veteran in the field of ophthalmology. Hatteras Venture Partners, located in Durham, NC, has extensive expertise in early-stage funding in the life sciences and has become a leading investment firm in the Southeast. On January 7, 2013, Hatteras announced the final closing on its latest venture capital fund, HVP IV, with $125 million in available capital.
About Santen Inc.
Santen Inc., based in Emeryville, California, is the U.S. subsidiary of Santen Pharmaceutical Co., Ltd., headquartered in Osaka, Japan, since 1890. Santen researches, develops, and markets ophthalmic products worldwide. Santen has subsidiaries in the U.S., Europe, and Asia, including its wholly owned California-based subsidiary, Santen Inc., which includes the Global Clinical Development and Medical Affairs organization. Santen Inc. also maintains a satellite business development office in Irvine, California, which provides direct access to the cluster of ophthalmic companies operating in that area. Santen holds the top share within the Japanese and Chinese markets and is one of the leading ophthalmic companies worldwide. Santen’s global product pipeline includes a number of prescription pharmaceuticals in varying clinical trial phases. A detailed listing and additional corporate information are available online at www.santeninc.com .
About Clearside Biomedical, Inc.
Clearside Biomedical, headquartered in Alpharetta, GA is a clinical-stage ophthalmic pharmaceutical company that develops and commercializes targeted therapeutics to treat sight-threatening diseases. Clearside treats the pathological changes to the blood retinal barrier that lead to retinal blindness by delivering therapeutics through the suprachoroidal space to the retina and choroid using a proprietary microinjection dosage form. Clearside Biomedical was founded by an executive team with extensive development and revenue growth expertise. This team strives for better delivery and performance of its therapeutic agents to improve the standard of care for patients with retinal and choroidal disease. Visit http://www.clearsidebio.com/ for more information.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.