Spyglass Pharma was founded in 2019 and is based in Aliso Viejo, California. They are developing a drug delivery platform mounted on an intraocular lens to address mild-moderate glaucoma in patients undergoing cataract surgery.   

The lead asset utilizes a well-established pharmaceutical agent, bimatoprost, which is widely used in topical medications for glaucoma. The topical medications are difficult for patients to administer and have preservatives which can irritate the ocular surface, leading to 50% of patients becoming nonadherent to their topical medication regimen within 6-12 months. By delivering the drug via an intraocular lens, Spyglass will achieve vision correction, as well as lower intra-ocular pressure without the side effect profile topical medications. Spyglass has generated promising clinical data from its first-in-human and Phase I/II clinical studies demonstrating sustained and robust lowering of intraocular pressure and a high success rate in keeping patients off of topical medications.  

Gilde is participating in the company’s $75M Series D financing. The main goal of the financing is to initiate and complete two pivotal Phase III studies, which are necessary to obtain FDA approval of the drug-device combination. The financing will also fund the company through submission of its NDA.