Oculis, an Iceland-based biotechnology company developing the topical treatment for eye conditions, recently announced the successful fundraising of 15.5-million CHF (equivalent to 15.5-million USD) in an extension of its Series B financing round.
This round was led by Tekla Capital Management (Boston) and included the contribution of Nan Fung Life Sciences, with Henry Skinner, Ph.D., Senior Vice President at Tekla Capital Management, taking a seat on the Board of Directors as a Non-Executive Director.
The Series-B Financing Round started in January last year with the participation of leading international growth funds such as Bay City Capital, Novartis Venture Fund, Pivotal bioVenture Partners, Brunnur Growth Fund and Tekla Capital Management. While Oculis is moving its headquarters to Lausanne, Switzerland, its research and development will strategically remain in Iceland.
The funds will be used to expand the company’s portfolio through strategic in-licensing and to advance novel topical treatments (i.e., eye drops) for ophthalmic diseases of both back- and front-of-the-eye, such as OCS-01 (formerly OC-118) and OCS-02 (formerly LME636).
Established in 2003, Oculis’s mission is to improve the sight and lives of patients worldwide. The company is utilizing the solubilizing nanoparticle (SNP) technology – a patented technology and the support from global life science investors to generate a pipeline of topical drugs targeting sight-threatening eye diseases.
Life science companies focusing on research and development in Iceland, benefit from favorable patent legislation, low corporate tax, and encouraging financial incentives for R&D and commercial applications. To learn more, please visit Invest in Iceland.
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