US-based pharmaceutical company PanOptica has secured $45m in series B financing from investors including Novo Ventures, which acts as the corporate venturing arm of Denmark-based healthcare company Novo.
Novo, which participated in the round as a new investor, co-led the round with existing backer Third Rock Ventures, while SV Life Sciences also participated. Third Rock and SV previously provided $30m for PanOptica’s 2011 series A round.
Founded in 2009 with seed financing from SV, PanOptica develops therapies for ophthalmology, and in particular age-related macular degeneration (AMD). It recently began Phase 1 clinical trials for its lead candidate, PAN-90806, an eye drop treatment intended to treat AMD.
“We feel PanOptica has the right mix of proven medical, regulatory and commercial capabilities in its management team and expect that this compound will be a valuable addition to the AMD marketplace,” said Thomas Dyrberg, a senior partner at Novo Ventures. “We are excited to join PanOptica in its efforts to develop and commercialise PAN-90806.”