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Cloudbreak, a US-China Biopharma, Raises $25 Million for Ophthalmology Drugs

publication date: Apr 17, 2020

Cloudbreak Therapeutics, a US-China ophthalmology biopharma, completed a $25 million Series B round to support US Phase III trials of its lead product, CBT-001, a treatment for pterygium. Pterygium is a common pinkish growth that starts in the corner of the eye and can spread to the cornea. An inflammatory condition, it can cause astigmatism or block the pupil. Cloudbreak also out-licensed greater China CBT-001 rights to China GrandPharma of Hong Kong for $10.5 million in upfront and milestone payments. In addition, Grand Pharma will invest $5.6 million to buy a 6.5% Cloudbreak stake. More details....

Stock Symbol: (HK: 0512)

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