SpyGlass Pharma Raises $75 Million Series D Funding to Advance Its Long-term Drug Delivery Platform for Glaucoma Patients

SpyGlass Pharma announced the closing of a $75 million Series D financing round to support the development of its drug delivery platform aimed at transforming the long-term treatment of glaucoma and other chronic eye diseases.

The funding will enable SpyGlass to move forward with two pivotal phase 3 registrational trials, set to commence later this year. These trials are designed to further evaluate the company’s proprietary drug delivery platform, which the company says has shown promising long-term efficacy and safety in earlier clinical studies.

“We appreciate the strong support from our new and existing investors, underscoring their confidence in our innovative drug delivery platform,” Patrick Mooney, CEO of SpyGlass Pharma, said in a company news release. “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.”

SpyGlass’ platform, which uses bimatoprost to treat glaucoma, is engineered to deliver medication to targeted ocular tissues over a period of 3 years, offering a potential alternative to daily eye drops currently required by patients. According to the company, early clinical results have demonstrated sustained IOP-lowering effects.

“The long-term safety and efficacy demonstrated from both the first-in-human feasibility trial and the phase 2, multicenter, randomized clinical trial is compelling,” said Malik Y. Kahook, MD, Co-Founder and President of SpyGlass Pharma. “We believe our approach represents a paradigm shift in the treatment of eye diseases, such as glaucoma, with significant advantages compared to currently commercialized therapies.”

The Series D round was led by Sands Capital and included participation from new investor Gilde Healthcare, along with existing backers New Enterprise Associates (NEA), RA Capital, Vensana Capital, Samsara BioCapital, and Vertex Ventures HC.

The company also confirmed plans to present 24-month follow-up data from its first-in-human study at the upcoming American Academy of Ophthalmology (AAO) meeting later this year. SpyGlass completed enrollment in its phase 1/2 US trial and will continue to work closely with the FDA as it moves toward commercial approval.