Oculis raises CHF 20M in a Series B financing round from Bay City Capital, Novartis Venture Fund and Pivotal bioVenture Partners.

Oculis, a Reykjavik, Iceland-based clinical-stage biotechnology company focused on the development of breakthrough non-invasive topical treatment for back-of-the-eye diseases, announced the closing a Series B financing round of CHF 20 million (USD 20.3M).

The investment round was led by a syndicate of life science investors including Bay City Capital, Novartis Venture Fund and Pivotal bioVenture Partners. Existing investors, including Brunnur Ventures and Silfurberg, also participated in the financing.

Oculis, founded in 2003 by Einar Stefansson and Thorsteinn Loftsson, is a clinical-stage, pharmaceutical development company focusing on ophthalmic drugs and novel drug delivery. The company developed OC-118, a proprietary topical product currently in a Phase IIb clinical trial for the treatment of Diabetic Macular Edema (DME), the leading cause of blindness in young adults in developed countries. In prior pilot studies, OC-118 demonstrated a statistically significant and clinically meaningful improvement of visual acuity and reduction of central macular thickness of DME patients.

In conjunction with the financing, Oculis is re-locating its corporate headquarters to Lausanne, Switzerland, while its R&D remains in Reykjavik, Iceland. The funds will be used to advance the clinical development of OC-118.

Prior to this round, Oculis raised Series A investment round led by local investment firms Brunnur Ventures and Silfurberg.