SpyGlass Pharma secures $75 million in Series D financing round

(Image Credit: AdobeStock/Tomasz Zajda)

SpyGlass Pharma has announced the closing of a $75 million Series D financing round.¹ The funding will support SpyGlass’ drug delivery platform, which aims to provide multiple years of medical therapy, addressing the need for long-term management of glaucoma and other chronic ophthalmic diseases, according to the company.

The SpyGlass drug delivery platform with bimatoprost is designed to deliver 3 years of bimatoprost to targeted tissues to lower intraocular pressure (IOP) and is implanted during routine cataract surgery.

The Series D funding was led by Sands Capital, joined by Gilde Healthcare and existing investors New Enterprise Associates, RA Capital, Vensana Capital, Samsara BioCapital, and Vertex Ventures HC.

Patrick Mooney, CEO of SpyGlass Pharma, commented on the funding in a press release from the company.

“We appreciate the strong support from our new and existing investors, underscoring their confidence in our innovative Drug Delivery Platform,” said Mooney. “We are excited to advance our platform through pivotal phase 3 trials as we accelerate our commitment to addressing significant unmet needs for ophthalmic patients.”

In November 2024, the company announced the completion of enrollment in its phase 1/2 randomized, multicenter, controlled clinical trial (NCT06120842) evaluating SpyGlass’ drug delivery platform in patients with glaucoma or ocular hypertension.²

Malik Y. Kahook, MD, cofounder and president of SpyGlass Pharma, noted that “the long-term safety and efficacy demonstrated from both the first-in-human feasibility trial and the phase 2 multicenter, randomized clinical trial [showed] significant and sustained intraocular pressure–lowering in [patients with] glaucoma.”

The company plans to share 24-month follow-up data at the American Academy of Ophthalmology annual meeting in October 2025. SpyGlass also noted it plans to work closely with the FDA to advance the program through phase 3 clinical trials and potential commercial approval.

References

1. SpyGlass Pharma raises $75 million series D funding to advance its long-term drug delivery platform for glaucoma patients. News release. SpyGlass Pharma, Inc. June 2, 2025. Accessed June 2, 2025. https://www.globenewswire.com/news-release/2025/06/02/3091790/0/en/SpyGlass-Pharma-Raises-75-Million-Series-D-Funding-to-Advance-Its-Long-term-Drug-Delivery-Platform-for-Glaucoma-Patients.html

2. Hutton D. SpyGlass Pharma completes enrollment in phase I/II study of its long-term drug delivery platform for glaucoma and ocular hypertension. Ophthalmology Times. November 19, 2024. Accessed June 2, 2025. https://www.ophthalmologytimes.com/view/spyglass-pharma-completes-enrollment-in-phase-i-ii-study-of-its-long-term-drug-delivery-platform-for-glaucoma-and-ocular-hypertension