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Research Triangle Park News

RTP startup Aerie Pharmaceuticals closes $30M round for glaucoma treatment

3/7/2011

As reported by Triangle Business Journal

(Research Triangle Park, NC) – Aerie Pharmaceuticals Inc., a Duke University spinoff developing a treatment for glaucoma, has raised $30 million in a series B round of venture-capital financing.

The round, led by Clarus Ventures and Sofinnova Ventures, brings Aerie’s total venture-capital haul to $76 million. Existing investors Alta Partners and TPG Biotech also participated in the second venture-capital round.

Aerie says that it will use the $30 million to carry its lead product, a glaucoma treatment, into phase III clinical trials – the last of the three clinical-trials stages before a company can submit an application seeking approval of the U.S. Food and Drug Administration to market a drug for sale.

The announcement of the series B funding comes six months after Aerie raised $5.25 million in debt financing.

Aerie is a Duke University spinoff that was founded in Chapel Hill in 2005 but now has its headquarters in Bridgewater, N.J. The company’s R&D operations remain in Research Triangle Park.