Ocumension Therapeutics invested $15.7 million into EyePoint Pharmaceuticals, purchasing 3.01 million shares in the company, EyePoint announced Jan. 3.
Ocumension and EyePoint had an existing partnership centered around a pair of offerings in Asia.
Nancy Lurker, president and CEO of EyePoint said, "We are excited about the significant potential of these products in both the U.S. and in Asia and for our R&D pipeline, including the Phase 1 trial of EYP-1901 in wet age-related macular degeneration that is expected to commence in the coming months."
As a result of the investment, Ye Liu, CEO of Ocumension, will serve on EyePoint's board of directors.