San Diego’s Okogen received $10 million in Series A funding to advance the company’s lead candidate for viral conjunctivis, commonly known as pink eye.
The funding came from Brandon Capital’s Medical Research Commercialisiation Fund. It will go toward the development of Okogen’s OKG-0301, an ophthalmic formulation of ranpirnase, as well as a phase 2 clinical trial.
There are about 30 million cases of acute conjunctivitis annually worldwide, and 70 percent of those affected in the U.S. seek treatment.
“There are no approved therapies for viral conjunctivitis, and patients frequently receive antibiotics despite their lack of efficacy in treating viral infections and potential to cause antibiotic resistance,” said Brian M. Strem, CEO of Okogen, in a news release.
In addition to the Series A Funding, Quinton Oswald was appointed to company’s board. Oswald currently serves as the president and CEO of Notal Vision, which is focused on age-related macular degeneration. Prior to that, he was president and CEO at Neurotech Pharmaceuticals and SARcode Bioscience.