Series E brings in $8.5mm for Ocular Therapeutix

Ophthalmic drug/device developer Ocular Therapeutix Inc. has raised $8.5mm through what appears to be its Series E venture round. Baxter Ventures acquired a minority stake, and was joined by returning shareholder Ascension Health Ventures. Ocular will use the new money to continue developing its sustained-release drug candidates, including prostaglandin analogs for glaucoma and corticosteroids for post-operative inflammation and pain. The company will also use the funding to support the launch of its ReSure surgical sealant for clear corneal incisions following the implantation of lenses. The company closed its $9.8mm Series D extension at the end of 2012.