Kedalion Therapeutics secures Series B funding led by Novartis

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The agreement also includes an exclusive option for Novartis to acquire Kedalion and its AcuStream technology. No financial terms were disclosed.

Kedalion Therapeutics has announced the completion of its Series B financing led by Novartis and involving a combination of new and existing investors.

According to the company, the Novartis investment includes an exclusive option to acquire the company and its AcuStream technology. The agreement follows a Feasibility Study agreement with the AcuStream technology signed earlier this year. The feasibility study has been completed with successful results. Collaboration between the two parties is ongoing.

The financial and other terms of this transaction are not disclosed.

Kedalion’s AcuStream platform is a highly innovative, digitally connected, electromechanical topical ocular delivery device that aims to address a potential unmet need for a convenient, user-friendly device that reliably, accurately and comfortably delivers topical ocular therapy with improved efficiency and patient comfort and reduced reliance on patient skill and instillation technique when administered by a physician.1

The multi-dose, preservative-free platform strives to enable intended aim, potential for a comfortable patient experience, micro-dosing capability, and in phase 1 proof of concept studies has shown a potential for a reduction in delivery dose of an intended therapy.1-4

According to the agreement, Kedalion will continue to move forward with the development of the AcuStream platform across multiple disease categories, drug classes and compositions, including the treatment of presbyopia. The AcuStream technology has a potential to enhance the patient experience and optimize treatment outcomes of the company’s highly advanced portfolio of topical ocular drug products in development.

The company looks forward to the opportunity to collaborate with Novartis Innovative Medicines as a valued investor and partner in developing our technology platform and therapeutic targets.

According to Jill Hopkins, Global Development Unit Head, Ophthalmology, Novartis Pharmaceuticals, the company remains

“At Novartis, we are committed to reimagining medicine and investigating innovative approaches that have the potential to address unmet patient needs.

“The AcuStream technology is a novel platform with broad applicability in ophthalmics and we envision that it could help us deliver transformative solutions to the patients who rely on our therapeutics to treat a range of eye conditions,” Hopkins said.

Mark Blumenkranz, MD, MMS, chairman and CEO of Kedalion Therapeutics, said the transaction and associated further studies will help the company accomplish its goal of revolutionizing the way drugs are delivered to the eye.

“The AcuStream technology, which strives to enable easier aiming, micro-dosing capability, and a potential for a reduction in delivery dose of an intended therapy, has the potential for a comfortable patient experience for patients worldwide,” he said. “The platform could potentially provide convenience and enable micro-dosing capability for various ocular diseases.1 We see our capabilities coupled with the scientific and market leadership of Novartis in ophthalmics to be a winning formula for both organizations.”

References

  1. Quiroz-Mercado H, Ivri E, Gonzalez-Salinas R, et al. Clinical evaluation of a novel electromechanical topical ocular drug delivery system: two phase 1 proof of concept studies. Clin Ophthalmol. 2020;14:139-147.
  2. Data on File. Kedalion Therapeutics. Kedalion Report September 2021.
  3. Data on File. Kedalion Therapeutics. Device Focus Group 2019.
  4. Data on File. Kedalion Therapeutics. Patient Comfort Testing Results 2021.