Graybug Vision, a clinical stage pharmaceutical company developing potentially transformative long-acting therapies for ocular diseases including wet age-related macular degeneration (AMD), diabetic macular oedema (DME), retinal vein occlusion (RVO), and primary open angle glaucoma, has secured an USD80m Series C financing, it was reported yesterday.

The funds will be used to progress GB-102, the company's lead asset, into both a phase 2b clinical study (the ALTISSIMO study) in wet AMD and a Phase 2a study in macular oedema secondary to DME or RVO. They will also be utilised to advance GB-401, the company's preclinical glaucoma asset, into the clinic in 2020.

The Series C financing was headed by CBC Group, a new investor, and includes participation from existing investors Deerfield Management, OrbiMed Advisors, Hatteras Venture Partners, a fund managed by Blackstone Life Sciences, and other new investors.