WALTHAM, Mass.--(BUSINESS WIRE)-- Kala Pharmaceuticals, Inc., a leading developer of innovative products that rapidly and effectively penetrate the mucosal barrier to treat a wide range of debilitating diseases, announced today that it has secured $11.5 million in Series A equity financing through new and existing investors. New and lead investor, Crown Venture Fund, LLC, the venture capital arm of the Crown family of Chicago, joined Kalas existing investors, including Lux Capital Management, Polaris Venture Partners and Third Rock Ventures. Proceeds from the financing will be used to advance a portfolio of innovative ophthalmic programs based on Kalas Mucosal Penetrating Product (MPP) platform through clinical proof of concept. "Kala's front of the eye drug delivery advantages and ability to topically deliver a wide variety of drugs to the back of the eye will transform the ophthalmology sector," said Richard Robb, a CVF representative. Crown Venture Fund is pleased to join Kalas existing investors and support this team of ophthalmology industry leaders. With Crown Venture Fund we are pleased to expand our circle of committed, long-term investors who recognize the significant potential of this breakthrough technology, said Guillaume Pfefer, Ph.D., Kalas CEO. This financing provides Kala with the resources to further deploy … Continue reading
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