Financing to boost retinal research

December 15, 2005

Paris—Fovea Pharmaceuticals SA, a biopharmaceutical company working to discover, develop, and commercialize drugs to treat retinal diseases, announced the closing of a $25 million equity financing round.

Paris-Fovea Pharmaceuticals SA, a biopharmaceutical company working to discover, develop, and commercialize drugs to treat retinal diseases, announced the closing of a $25 million equity financing round.

The international syndicate was led by Sofinnova Partners of France and includes groups based in the United Kingdom, Belgium, and France.

The company intends to use the funds to develop drugs to treat age-related macular degeneration, retinitis pigmentosa, diabetic retinopathy, and macular edema. It plans to use the financing to develop a diversified pipeline of products through internal research and "therapeutic switching in ophthalmology of molecules currently developed for other indications."