FOR IMMEDIATE RELEASE
Menlo Park, CA, August 6, 2018 – Kedalion Therapeutics, Inc., a clinical-stage company focused on the development and commercialization of topical ophthalmology therapies based on its proprietary AcuStream™ platform, today announced the completion of a $5 million Series A financing. The investment round was led by Lagunita Biosciences. Proceeds from the financing will be used to further develop the Company’s technology platform through to pilot-scale GMP manufacturing and support advancement of the Company’s clinical programs.
“We are very pleased to secure this round of financing, which will enable us to advance the AcuStream technology and to generate additional clinical data to further show our platform’s broad benefits for ophthalmology patients. We are also extremely pleased to have the continued support of Lagunita Biosciences as we develop our innovative products,” said Peter Noymer, PhD, President and Chief Executive Officer, Kedalion Therapeutics.
“Kedalion’s AcuStream platform has the potential to revolutionize the way that ophthalmology patients take their medications and to have great impact on comfort, convenience, compliance and adherence with their therapies,” said Mark Blumenkranz, MD, MMS, Executive Chairman of Kedalion and Chairman of Lagunita Biosciences. “The novelty and transformative potential of Kedalion’s AcuStream platform represents the kind of innovation that we are trying to foster at Lagunita, and we are pleased to support Kedalion’s growth.”
About Kedalion Therapeutics
Kedalion Therapeutics is a venture-backed, clinical-stage biotechnology company whose mission is to bring to market transformative topical ophthalmic therapies for new and existing indications. Kedalion’s proprietary AcuStream platform technology delivers topical drugs to the eye in a precise and accurate manner that enables comparable effect with up to an 80% reduction in dose compared to standard eye drops. Kedalion is based in Menlo Park, CA. For more information, visit www.kedalionthera.wpengine.com.