Kala Pharmaceuticals Secures $11.5 Million
Kala Pharmaceuticals, Inc. recently announced today that it has secured $11.5 million in Series A equity financing through new and existing investors. New and lead investor, Crown Venture Fund, LLC, the venture capital arm of the Crown family of Chicago, joined Kala’s existing investors, including Lux Capital Management, Polaris Venture Partners, and Third Rock Ventures. Proceeds from the financing will be used to advance a portfolio of innovative ophthalmic programs based on Kala’s Mucosal Penetrating Product (MPP) platform through clinical proof of concept.
“Kala’s front of the eye drug delivery advantages and ability to topically deliver a wide variety of drugs to the back of the eye will transform the ophthalmology sector,” said Richard Robb, a CVF representative. “Crown Venture Fund is pleased to join Kala’s existing investors and support this team of ophthalmology industry leaders.”
“With Crown Venture Fund, we are pleased to expand our circle of committed, long-term investors who recognize the significant potential of this breakthrough technology,” said Guillaume Pfefer, PhD, Kala’s CEO. “This financing provides Kala with the resources to further deploy our technology as we focus our internal drug development efforts on innovative ophthalmic treatments while leveraging our platform to pursue collaborations for a range of other diseases in which mucosal barriers have previously limited therapeutic efficacy. The potential breadth of this opportunity is evidenced by our recently announced collaboration with the Cystic Fibrosis Foundation.”
The financing will enable Kala to continue to progress on two of its most advanced programs, which focus on topical treatment of ocular inflammation and wet age-related macular degeneration (AMD). Beyond ocular diseases, Kala is pursuing collaborations with partners in other disease areas in which its proprietary MPP platform can be applied to serious diseases that involve mucosal tissues, such as the lung, the gastrointestinal tract, and the female reproductive system.
Kala Pharmaceuticals, Inc. is developing innovative products that are capable of penetrating mucosal barriers for the treatment of major diseases that affect the eyes, lungs, gastrointestinal tract, and female reproductive system. For more information, visit www.kalarx.com.
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