Baxter Ventures Invests in Ocular Therapeutix, Inc.
BEDFORD, Mass. -- June 10, 2013
Ocular Therapeutix, Inc. announced today that it has secured additional
financing, with Baxter Ventures acquiring a minority equity stake.
This round of financing follows Ocular Therapeutix’s Series D extension, which
closed in November, 2012. Ascension Health Ventures, who led Ocular
Therapeutix’s Series D financing, also participated in the current round. The
additional financing will help further the development of Ocular Therapeutix’s
sustained release drug programs, which include prostaglandin analogs for the
treatment of glaucoma, and corticosteroids for treatment of post-operative
inflammation and pain. The funding will also support commercial launch of the
ReSure Sealant in the United States following FDA approval of the device.
“We are proud to be associated with a global healthcare company such as
Baxter,” said Amar Sawhney, president and CEO of Ocular Therapeutix, Inc.
“Baxter’s investment recognizes the significant progress made by the company.”
“Through our investment in Ocular Therapeutix, we are continuing to incubate
innovation that has the potential to address areas of unmet need, provide
sustainable long-term growth potential and offer a sustainable competitive
advantage,” stated Geeta Vemuri, vice president and head of Baxter Ventures.
“We are pleased to invest again alongside Baxter for the continued development
of these programs,” added Tara Butler, investment director, Ascension Health
About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a privately held company based in Bedford, MA,
focused on the development and commercialization of ophthalmic therapeutic
products using its proprietary hydrogel technology. Ocular Therapeutix is
developing drug-eluting punctum plugs for treatment of glaucoma and
post-operative inflammation and pain, injectable depots for back-of-the-eye
diseases, and ReSure Sealant for sealing clear corneal incisions following
lens implantation surgery.
About Baxter Ventures
Baxter Ventures is a venture initiative established in 2011 by Baxter
International Inc. to invest in companies with innovative technologies,
products and therapies with the ability to improve patient care globally and
maximize value for investors and entrepreneurs. Baxter International Inc. is a
global, diversified healthcare company that applies a unique combination of
expertise in biotechnology, medical devices and pharmaceuticals to create
products that advance patient care worldwide.
About Ascension Health Ventures
Ascension Health Ventures was launched in 2001 as a wholly-owned subsidiary of
Ascension Health. AHV’s role has been to construct and manage a strategic
portfolio of investments that deliver a venture investment return, have the
potential to transform the healthcare industry and significantly enhance the
quality of patient care. CHV II, LP, a limited partnership between Ascension
Health, Catholic Health Initiatives, Catholic Health East and Catholic
Healthcare West, has been formed to expand this strategic investment
initiative to other Catholic healthcare systems. AHV is the general partner of
CHV II, LP.
Ocular Therapeutix, Inc.
Scott Corning, 781-357-4000
Vice President of Marketing and Sales
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