An eye drug biotech banks $118M and stocks its executive suite

Claris Biotherapeutics has netted $118 million and hired new chief executive and chief commercial officers to support its bid to develop an experimental eye drug, the New Jersey biotechnology company said Tuesday.

Samsara BioCapital and Catalio Capital Management co-led the Series B round, which included a number of other investors such as Sofinnova Investments and Novo Holdings. Claris will use the funds to propel its prospect into late-stage testing early next year for people with a blinding condition called limbal stem cell deficiency.

“What's happening in ophthalmological indications is that people are realizing that the opportunities in this are significant,” said Stephen Brady, the newly minted CEO of Claris.

Stephen Brady, formerly the CEO of Tempest Therapeutics, is now the leader of Claris Biotherapeutics.

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