On October 22, 2020, Azura Ophthalmics Ltd., a clinical-stage company developing innovative therapies for Meibomian gland dysfunction (MGD) and related eye diseases, announced a $20 million financing. The round was led by a syndicate of existing investors, including OrbiMed, TPG Biotech, Brandon Capital’s Medical Research Commercialization Fund, and Ganot Capital. Wilson Sonsini advised Azura on intellectual property matters, including patents, related to this transaction.

On the back of encouraging Phase 2 data to date, proceeds from the funding round will be used to advance Azura’s lead product candidate, AZR-MD-001, through a registration study for the treatment of MGD, an eye condition where the Meibomian glands become dysfunctional, resulting in rapid evaporation of the tear film. Meibomian gland dysfunction is the leading cause of evaporative Dry Eye Disease, a condition known to affect more than 30 million adults in the United States alone, presenting a huge unmet need globally.

Wilson Sonsini has served as IP counsel to Azura for six years. The team that represented Azura in this transaction includes Michael Hostetler, Greg Mitchell, Dylan Kahl, and David Clark.

For more information, please see Azura's press release.