Ocular Therapeutix garners $14M for mid-stage eye drug trials

Bedford, MA-based Ocular Therapeutix has raised an additional $14 million in its fourth round, according to a report from Xconomy's Ryan McBride. The tech site says that a new investor, Ascension Health Ventures, has stepped in to fund the company, along with existing backers Polaris Venture Partners, SV Life Sciences and Versant Ventures. Ocular has now raised more than $41 million as it plots mid-stage work on new therapies for pink eye and glaucoma. The startup was founded in 2006. Ocular is using hydrogel delivery technology to create tiny plugs that are inserted in the tear duct and release drugs over a period of weeks and months, eliminating the need for patients to dose themselves on schedule. The biotech has announced positive data from small, early-stage trials. Report