EyeGate Raises $15 Million

EyeGate Pharma, a Paris-based developer of iontophoresis technology to non-invasively deliver therapeutics for ocular indications, has raised $15 million in Series C funding. Medicis Capital was joined by return backers The Nexus Group, Innoven Partenaires and Ventech.   

PRESS RELEASE
EyeGate Pharma, a privately held, specialty pharmaceutical company using iontophoresis technology to safely and non-invasively deliver therapeutics into the front and back of the eye for treating serious ocular diseases, today announced that the company has secured $15 million in a Series C venture financing round. New investor, Medicis Capital, joins existing investors Ventech, Innoven Partenaires and The Nexus Group. This funding brings the total venture investment in EyeGate to $31 million to date.

Stephen From, President and Chief Executive Officer of EyeGate Pharma, commented, “With this venture financing, EyeGate will enter into two Phase II clinical studies utilizing the EyeGate II Delivery System and a proprietary formulation of a corticosteroid. In the first half of 2008 we will initiate a Phase II trial in severe uveitis, and in the second half of the year we will initiate a Phase II trial in dry eye. EyeGate is well on its way to becoming a leader in ophthalmic drug development and the delivery partner of choice for ophthalmic drug developers.”

Alain Maiore, Managing Partner of VenTech, added, “This is a very important time for EyeGate as the company readies itself for clinical development of two ophthalmology indications. Over the past year, EyeGate has optimized its ocular delivery platform — the EyeGate