Bay Area's Kodiak Sciences Rakes in $34 Million to Fuel Retina Pipeline
- Proceeds to accelerate therapeutic programs and deepen company pipeline
- Investment underscores unmet global needs for novel retinal medicines
PALO ALTO, Calif., Jan. 12, 2016 /PRNewswire/ -- Kodiak Sciences Inc., a biopharmaceutical company designing and developing novel therapies for the treatment of retinal disease, announced today the closing of a $34 million Series B financing. The round was led by a U.S.-based life sciences-focused investor. Kodiak will use the proceeds to accelerate existing therapeutic programs and deepen the company's retinal pipeline to meet the needs of an aging global population. This funding brings the total capital raised by the company since inception above $60 million.
"We are very gratified to close our Series B financing with an investor set that has a strong track record of making concentrated biotech investments held over the long time horizon necessary for innovative medicines development," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak. "This financing is further recognition of the potential of our pipeline and platform in retina. We now move another step closer to our goal of building a long-term and independent retina franchise company for the benefit of patients."
"Since Kodiak's founding in 2009, the company has taken an appropriately measured approach to building and investing in its science and business," said John Borgeson, Chief Financial Officer of Kodiak. "On this foundation, we are thrilled to bring in a top tier investor group as we grow our leadership and gather momentum as a leader in ophthalmology medicines development."
About Kodiak
Kodiak is designing and developing novel therapies for the treatment of retinal disease. For further information about the company, please visit www.kodiak.com.
Additional Information and Disclaimer
Certain matters discussed in this news release may constitute forward-looking statements. These statements are based on current expectations and estimates of Kodiak Sciences Inc., although Kodiak Sciences Inc. can give no assurance that these expectations and estimates will be achieved. Investors are cautioned that all forward-looking statements involve risks and uncertainty and are qualified in their entirety. The actual results may differ materially in the future from the forward-looking statements included in this news release due to various factors. Furthermore, except as otherwise required by law, Kodiak Sciences Inc. disclaims any intention or obligation to update the statements contained in this news release.
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SOURCE Kodiak Sciences Inc.
