Santen Pharmaceutical and Clearside Biomedical Enter Into Financing and Research Collaboration Agreements for Posterior Ocular Disease
1/31/2013 10:18:08 AM
EMERYVILLE, Calif. & ALPHARETTA, Ga.--(BUSINESS WIRE)--Santen Inc., a wholly owned subsidiary of Santen Pharmaceuticals Co., Ltd. (Osaka, Japan, Ticker Code 4536JP), and Clearside Biomedical, Inc. announced today that Santen Ltd., the parent company of Santen Inc., has made an investment in Clearside Biomedical Inc. and has also entered into a research collaboration agreement for posterior ocular diseases. Santen will join with other investors to fund an additional $7.9 million for continued development of CLS1001 into pivotal testing and to further Clearside Biomedical’s pipeline in ocular choroidal neovascularization and inflammatory diseases of the posterior segment. Santen, along with new investor Mountain Group Capital and its affiliates join current investors Hatteras Venture Partners, Georgia Research Alliance Venture Fund, and Kenan Flagler Business School Private Equity Fund.