OKYO Pharma receives $1.9 million in non-dilutive funding

(Image Credit: AdobeStock/Roman Motizov)

OKYO Pharma has received $1.9 million in non-dilutive funding to support its ongoing research and development programs, specifically to accelerate the clinical development of urcosimod (formerly called OK-101), OKYO’s lead drug candidate for the treatment of neuropathic corneal pain (NCP).¹

OKYO Pharma recently announced positive top-line data from the closed phase 2 trial of urcosimod to treat NCP—a randomized, double-masked, placebo-controlled, proof-of-concept trial conducted at a single trial site at Tufts Medical Center in Boston, MA, with Pedram Hamrah, MD, a leading expert in NCP, as principal investigator.²

The company describes urcosimod as a lipid-conjugated chemerin peptide agonist of the ChemR23 G-protein coupled receptor, which is typically found on immune cells of the eye responsible for the inflammatory response, as well as on neurons and glial cells in the dorsal root ganglion.¹

According to the company, the funds will be used to advance key clinical milestones, expand R&D efforts, and build momentum behind urcosimod’s regulatory pathway.

Gary S. Jacob, PhD, CEO of OKYO Pharma, commented on the funding in a press release from the company, saying, “This non-dilutive funding is a significant milestone for OKYO Pharma and allows the company to drive innovation and accelerate solutions that could improve patient outcomes. […] These funds allow us to aggressively pursue our mission of bringing urcosimod to patients who desperately need relief, without diluting shareholder value.”

The phase 2 trial was a randomized, double-masked, placebo-controlled, proof-of-concept trial and was conducted at a single trial site at Tufts Medical Center in Boston, MA, with Pedram Hamrah, MD, a leading expert in NCP, as principal investigator. The trial was originally planned to enroll 48 patients. However, in April 2025, OKYO Pharma announced the decision to close the trial early, with 17 patients having completed the study due to a “strong desire to unmask the clinical data for an early read-out on a drug effect.”

The company states that it plans to accelerate clinical development of urcosimod with further trials in the near future.

References:

1. OKYO Pharma Receives $1.9 Million in Non-Dilutive Funding to Accelerate Development of Urcosimod for Neuropathic Corneal Pain. Published July 17, 2025. Accessed July 21, 2025. https://www.globenewswire.com/news-release/2025/07/16/3116513/0/en/okyo-pharma-unveils-strong-phase-2-clinical-trial-results-for-urcosimod-to-treat-neuropathic-corneal-pain.html

2. Harp MD. OKYO Pharma announces positive results from phase 2 trial of urcosimod for neuropathic corneal pain. Published July 18, 2025. Accessed July 21, 2025. https://www.ophthalmologytimes.com/view/okyo-pharma-announces-positive-results-from-phase-2-trial-of-urcosimod-for-neuropathic-corneal-pain