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Dealipedia - Kala Pharmaceuticals Inc receives an investment from Lux Capital...

Kala Pharmaceuticals Inc receives a $7.243205 million investment

Deal Participants:
Company: Kala Pharmaceuticals Inc View Profile Charts Homepage
Investors: Lux Capital View Profile Charts Homepage
Polaris Venture Partners View Profile Charts Homepage
Third Rock Ventures View Profile Charts Homepage
Lighthouse Capital Partners View Profile Charts Homepage
Deal Financials:
Investment Amount: $ 7.243205 million
Series:
Date:
Announced: Mar 14, 2012

PRESS RELEASE - Kala Pharmaceuticals Inc receives a $7.243205 million investment

Kala Pharmaceuticals, Inc., developer of treatments for diseases that affect mucosal tissues, announced today that it raised $6.2M in additional equity financing from existing venture investors Lux Capital, Polaris Venture Partners, Third Rock Ventures, and Lighthouse Capital Partners. This new investment completes Kala’s seed financing, which totaled $11.2M. The company also announced that it has been awarded two grants from separate divisions of the National Institutes of Health that will advance its cystic fibrosis and ocular disease programs.

“Our goal is to develop therapies that lead to improved clinical outcomes for patients by overcoming the challenges posed by mucus barriers.”

“Kala’s unique technology platform is generating improved biopharmaceutical formulations that maximize efficacy by increasing the drug residence time at its site of action,” said Dr. Ronald Krall, a Kala advisor and the former Chief Medical Officer of GlaxoSmithKline. “The combination of improved local efficacy and reduced systemic exposure using a biocompatible formulation opens up an array of potential product opportunities.”

The company’s successful preclinical research supports its innovative approach to targeting diseases involving mucosal organs, including the respiratory tract, eye, gastrointestinal tract, and female reproductive system. The new round of funding will support the company as it advances an internal pipeline of products toward human clinical trials.

“We’ve demonstrated that Kala’s formulations of a wide range of therapeutic agents can penetrate and evenly distribute through human mucus secretions, including the exceptionally thick mucus found in cystic fibrosis,” said Dr. Colin Gardner, a Kala cofounder, and the former Chief Scientific Officer and Senior Vice President of Research at TransForm Pharmaceuticals/Johnson and Johnson. “Our goal is to develop therapies that lead to improved clinical outcomes for patients by overcoming the challenges posed by mucus barriers.”

Alongside the equity financing, the National Heart, Lung, and Blood Institute is funding the development of an improved inhaled treatment for cystic fibrosis-related infection, and the National Eye Institute is supporting the advancement of better formulations for ocular drug administration.

“These awards from distinct NIH divisions recognize the broad utility of Kala’s unique formulation platform,” said Robert Langer, ScD, Institute Professor at the David H. Koch Institute for Integrative Cancer Research at MIT, and cofounder of Kala Pharmaceuticals. “The company is already advancing formulations that overcome mucus barriers leading to new approaches to treating a range of diseases with high unmet medical need.”

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Mar 14 '12
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