Eye Drug Company Icon Bioscience Raises $15 Million, Seeks More

Icon Bioscience Inc., an eye drug company planning to submit its lead drug for approval next year, raised nearly $15 million from eight investors in the first round of a Series B fundraising, according to a Securities and Exchange Commission filing Wednesday. The Sunnyvale-based company, with offices in Redwood City, will use the money to move forward with some of its clinical trials, including a second pivotal study of ICI-10090, a treatment for controlling inflammation from cataract surgery, said CEO William "Sandy" White. It plans to submit that drug for approval toward the end of 2014, White said.

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