SpyGlass Pharma Raises $75 Million Series D Funding to Advance Its Long-term Drug Delivery Platform for Glaucoma Patients
- Financing supports SpyGlass Pharma’s platform through the readout of two Phase III pivotal trials
ALISO VIEJO, Calif., June 02, 2025 (GLOBE NEWSWIRE) -- SpyGlass Pharma, a privately held ophthalmic biotechnology company, today announced the closing of a $75 million Series D financing round. SpyGlass’ Drug Delivery Platform aims to provide multiple years of medical therapy, addressing the need for long-term management of glaucoma and other chronic ophthalmic diseases.
The Series D was led by Sands Capital, joined by Gilde Healthcare and existing investors New Enterprise Associates (NEA), RA Capital, Vensana Capital, Samsara BioCapital and Vertex Ventures HC. The funding will support the advancement of SpyGlass Pharma’s cutting-edge Drug Delivery Platform through the readout of two registrational Phase III trials, set to begin later this year.
“We appreciate the strong support from our new and existing investors, underscoring their confidence in our innovative Drug Delivery Platform,” said Patrick Mooney, CEO of SpyGlass Pharma. “We are excited to advance our platform through pivotal Phase III trials as we accelerate our commitment to addressing significant unmet needs for ophthalmic patients.”
"We believe our approach represents a paradigm shift in the treatment of eye diseases, such as glaucoma, with significant advantages compared to currently commercialized therapies," said Dr. Malik Y. Kahook, MD, Co-Founder and President of SpyGlass Pharma. "The long-term safety and efficacy demonstrated from both the first-in-human feasibility trial and the Phase II, multi-center, randomized clinical trial showing significant and sustained intraocular pressure-lowering in glaucoma patients, is compelling."
“We are delighted to lead this financing round to advance SpyGlass’ innovative platform technology through Phase III studies. Glaucoma remains a leading cause of irreversible blindness worldwide and, we believe, Spyglass’ elegant approach to intraocular drug delivery will set a new standard of care in this area of unmet need,” said Jake Merrill, CFA, Principal at Sands Capital.
ABOUT SPYGLASS PHARMA
The SpyGlass Drug Delivery Platform with bimatoprost is designed to deliver 3 years of bimatoprost to targeted tissues. Patients in the first-in-human study will continue to be followed over time, and the Company plans to share 24-month follow up data at the American Academy of Ophthalmology meeting later this year. SpyGlass completed enrollment in a Phase I/II study in the United States to investigate the safety and efficacy of its platform in a larger patient pool. SpyGlass looks forward to working closely with the U.S. Food and Drug Administration (FDA) to advance the program through Phase III clinical trials and ultimately to commercial approval. SpyGlass operates from its facilities in California and can be found online at www.spyglasspharma.com
ABOUT SANDS CAPITAL
Sands Capital is an active, long-term investor in leading innovative growth businesses, globally. Their approach combines analytical rigor and creative thinking to identify high-quality growth businesses that are creating the future. Through an integrated investment platform spanning venture capital, growth equity and public equity, they provide growth capital solutions to institutions and fund sponsors in more than 40 countries.
An independent, staff-owned firm founded in 1992 and headquartered in the Washington, D.C., area with offices in London and Singapore, Sands Capital managed more than $49B in client assets as of March 31, 2025.
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