Kala Pharmaceuticals has closed $110 million in financing with Athyrium Capital Management, the company announced in a press release.
The financing will be used to support a new drug application for Kala’s dry eye disease treatment KPI-121 0.25%, its launch of Inveltys (loteprednol etabonate ophthalmic suspension 1%) for the treatment of inflammation and pain after ocular surgery, and topline results for its STRIDE-3 trial of KPI-121 0.25%.
An initial $75 million tranche will be funded immediately, with $35 million becoming available upon a revenue milestone for Inveltys or FDA approval
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