Ocular Therapeutix, a US-based healthcare company focused on the development and commercialization of ophthalmic therapeutic products, has secured series E funding of $8.5m from Ascension Health Ventures, a subsidiary of hospital group Ascension Health, and Baxter Ventures, a subsidiary of healthcare company Baxter International. Baxter Ventures has also acquired a minority equity stake in Ocular Therapeutix.
This round of financing takes Ocular Therapeutix’s total funding to $54.5m, following its series D extension of nearly $10m, which closed in November 2012. Ascension Health Ventures led Ocular Therapeutix’s series D financing; other investors included Polaris Ventures, Versant Ventures, SV Life Sciences and Sparta. Ocular raised $14m in its D round in February 2011, $15m in its C round in June 2009, $6m in its B round in March 2008, and $1m in its A round.
The additional financing will help further the development of Ocular Therapeutix’s sustained release drug program and also support commercial launch of the ReSure Sealant in the United States following FDA approval of the device.
Amar Sawhney, president and chief executive officer of Ocular Therapeutix, said: “Baxter’s investment recognizes the significant progress made by the company.”
Geeta Vemuri, vice president and head of Baxter Ventures, said: “Through our investment in Ocular Therapeutix, we are continuing to incubate innovation that has the potential to address areas of unmet need, provide sustainable long-term growth potential and offer a sustainable competitive advantage.”
Tara Butler, investment director, Ascension Health Ventures, said: “We are pleased to invest again alongside Baxter for the continued development of these programs.”