BRIEF—Azura raises $20 million for dry eye treatment

Azura Ophthalmics has raised $20 million in a financing round led by a syndicate of existing investors, including OrbiMed, TPG Biotech and the medical research arm of Brandon Capital.

The firm has encouraging Phase II data for lead product candidate AZR-MD-001, and the money will be used to continue the project through a registrational trial, planned for 2021.

The candidate is being developed for the treatment of Meibomian gland dysfunction (MGD), the leading cause of dry eye disease.

Chief executive Marc Gleeson said: “We are thrilled to enter 2021 with the additional funding that will allow us to conduct the studies needed to build a strong body of clinical evidence for our approach, so we can seek FDA approval for the first ophthalmic keratolytics for the treatment of Meibomian gland dysfunction.”