OcuCure gets $1.5M seed funding

The USA's OcuCure Therapeutics has received $1.5 million in seed financing to advance its compounds, which have been formulated as topical eye drops for the treatment of wet age-related macular degeneration and dry AMD prophylaxis.

According to the company, its compounds also have potential applications for diabetic retinopathy and other back-of-the-eye blinding diseases, while animal studies indicate that the eye drop formulation has a favorable safety profile and penetrates all the way back to the retina at clinically-significant concentrations. Additionally, other evaluations have demonstrated the lead compound's ability to cross the much thicker human cornea, the firm noted.