Venture-stage pharmaceutical company Graybug Vision recently announced the closing of a $44.5 million Series B financing that will be used to further the development of GB-102 — the company's lead drug for wet age-related macular degeneration (AMD) — for Phase 2 clinical trials and to start a clinical program for its proprietary glaucoma compound.
According to Graybug, GB-102 is a dual-acting inhibitor of vascular endothelial growth factor (VEGF) and platelet-derived growth factor (PDGF) receptors that can be administered to wet AMD patients twice a year. Graybug is also reportedly applying its proprietary injectable depot technology to enable twice per year treatment of glaucoma from a subconjunctival injection.
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