October 10, 2017 | Israeli clinical-stage biotechnology company Azura Ophthalmics has raised $16 million in a Series B funding round led by investors that include a syndicate of Orbimed, TPG Biotech, and Brandon Capital’s Medical Research Commercialization. There was also participation from existing investor Ganot Capital. The company, based in Tel Aviv, will use the funds to advance their development of a drug therapy for meibomian gland dysfunction (MGD) to the next stage of their clinical research. The company’s current treatment is being prepared for a Phase IIa trial. Meibomian glands in eyelids produce an oily layer that forms the outermost layer of tears. If not treated, MGD affects tears, causes eye irritation, inflammation and severe dry eye often leading to Dry Eye Disease.
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