Oxular Ltd raises US$37m

Oxford-based Oxular said it will use the proceeds to finance Phase II studies evaluatingO the company’s lead asset, OXU-001, for the treatment of diabetic macular edema (DME), as well as accelerating development of its early-stage pipeline.

According to Oxular, a key challenge facing patients with DME is the need for frequent clinic visits for repeated treatment injections. To address this, OXU-001, a sustained-release formulation of dexamethasone, provides up to 12 months’ treatment effects following a single administration. The OXU-001 program combines the use of Oxular’s platform technologies including Oxuspheres, drug-containing biodegradable polymers, designed for sustained release or dexamethasone, and Oxulumis, a an illuminated microcatheter utilizing the suprachoroidal space for drug delievery.

Proceeds from the financing will also accelerate development of the company‘s early-stage pipeline: Oxular’s candidate for retinoblastoma,OXU-003, will be pushed into Phase II studies in 2022. In addition, OXU-004, a first-in-class treatment for uveal melanoma, and OXU-005, a once-a-year treatment for age-related macular degeneration (AMD) and diabetic retinopathy (DR), will be rprepared for IND submissions.