OKYO Pharma, a clinical-stage biopharmaceutical company developing treatments for neuropathic corneal pain (NCP) and dry eye disease (DED), has secured $1.4 million in non-dilutive funding. This funding will primarily support the development of OK-101, the company’s lead program for NCP. This non-dilutive funding allows OKYO to advance its research without impacting shareholder value.
This influx of capital is crucial for OKYO Pharma because it allows the company to continue developing its lead candidate, OK-101, for NCP, a condition currently lacking an FDA-approved treatment. Successful development of OK-101 could position OKYO as a leader in this underserved market, potentially bringing significant relief to patients suffering from this debilitating condition. Furthermore, continued progress with OK-101 reinforces the potential of the company’s drug development platform, which could lead to further advancements in treating other ophthalmic diseases like DED.
The $1.4 million will specifically support research and development efforts, focusing on OK-101, currently in a Phase 2 trial for NCP. OK-101 is a lipid-conjugated chemerin peptide agonist designed to have a longer duration of action in the eye. Preclinical studies have demonstrated its anti-inflammatory and pain-reducing properties. A previous Phase 2 trial for DED showed statistically significant positive results across multiple endpoints.
This non-dilutive funding positions OKYO Pharma to make significant strides in its clinical programs, particularly with OK-101. Positive results from the ongoing Phase 2 NCP trial could significantly increase the value of the company and attract further investment, paving the way for later-stage clinical development and potential commercialization. This progress may establish OKYO as a key player in the ophthalmology market, offering much-needed therapies for patients with currently limited treatment options.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
