SpyGlass Pharma, a privately held ophthalmic biotechnology company, announced the closing of a $75 million Series D financing round. Sands Capital led the Series D funding round, which was joined by Gilde Healthcare and existing investors New Enterprise Associates (NEA), RA Capital, Vensana Capital, Samsara BioCapital, and Vertex Ventures HC.
SpyGlass’ Drug Delivery Platform looks to provide multiple years of medical therapy, addressing the need for long-term management of glaucoma and other chronic ophthalmic diseases.
How the funding will be used: This funding round will support the advancement of SpyGlass Pharma’s cutting-edge Drug Delivery Platform through the readout of two registrational Phase III trials, scheduled to begin later this year.
KEY QUOTES:
“We appreciate the strong support from our new and existing investors, underscoring their confidence in our innovative Drug Delivery Platform. We are excited to advance our platform through pivotal Phase III trials as we accelerate our commitment to addressing significant unmet needs for ophthalmic patients.”
Patrick Mooney, CEO of SpyGlass Pharma
“We believe our approach represents a paradigm shift in the treatment of eye diseases, such as glaucoma, with significant advantages compared to currently commercialized therapies. The long-term safety and efficacy demonstrated from both the first-in-human feasibility trial and the Phase II, multi-center, randomized clinical trial showing significant and sustained intraocular pressure-lowering in glaucoma patients, is compelling.”
Dr. Malik Y. Kahook, MD, Co-Founder and President of SpyGlass Pharma
“We are delighted to lead this financing round to advance SpyGlass’ innovative platform technology through Phase III studies. Glaucoma remains a leading cause of irreversible blindness worldwide and, we believe, Spyglass’ elegant approach to intraocular drug delivery will set a new standard of care in this area of unmet need.”
Jake Merrill, CFA, Principal at Sands Capital
