BRIEF—$35 million investment for Oxurion

Belgium’s Oxurion has received a capital commitment of up to 30 million euros ($35 million) from Paris-based investor Negma Group.

Oxurion, which is working on next generation back of eye therapies, will receive the equity investment in tranches over a 12-month period.

The firm anticipates initial clinical data from its lead asset, diabetic macular edema (DME) candidate THR-149, later in 2021.

Oxurion also plans to initiate a Phase II trial with THR-687 in DME by mid-year. THR-687 is being developed as a potential first line therapy for all DME patients.

Chief executive Patrik De Haes said the firm’s eye drug candidates were targeting “potential market opportunities of over $12 billion.”