Oculis raises CHF20M series B

Oculis S.A. (Lausanne, Switzerland) raised CHF20 million ($20.3 million) on Jan. 4 in a tranched series B round led by Bay City Capital, Novartis Venture Fund and Pivotal bioVenture Partners with participation by existing investors Brunnur Ventures and Silfurberg. Oculis also hired Riad Sherif as CEO.

Oculis received CHF18 million in an initial tranche and hopes to receive the remaining CHF2 million in 1H19, pending milestones including submission of an IND for lead candidate OC-118 to treat diabetic macular edema. The therapy is a topical dexamethasone formulation developed using the company's Solubilizing Nanoparticle (SNP) technology platform. Oculis expects data in late 2Q19 from a Phase IIb study of OC-118 in DME patients...