Cambium Bio completes funding to help advance dry eye disease treatment

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Cambium Bio Limited, a clinical-stage regenerative medicine company, announced it has successfully completed an A$3.0 million capital raising round.

The capital raising, approved by capital shareholders, is composed of:

• A$1.5 million strategic investment from AventaCell Biomedical Corp
• A$0.25 million investment from Zheng Yang Biomedical Technology
• A$0.146 million from Cambium Bio directors
• A$1.054 million from Cambium Bio CEO, Australian institutional, sophisticated, and other investors¹

According to the company, the funding will primarily support the advancement of Elate Ocular through its registration-enabling Phase 3 clinical trials for dry eye disease. Elate Ocular is derived from enriched fibrinogen-depleted human platelet lysate, and features a similar pH and osmolarity to normal tear with a higher overall protein content.²

A clinical trial of Elate Ocular in 2020 was conducted in 64 adults across 9 sites in the US. Dosing was a double-blind 1:1:1 of vehicle, 10% and 30% Elate Ocular. Primary endpoints were safety and tolerability, while secondary endpoints were changes in ocular signs and symptoms on day 42. According to the results, the drug met all primary safety and tolerability endpoints.³

The company plans on initiating 2 separate phase 3 clinical trials for Elate Ocular (Camomile-2 and Camomile-3) in April 2025, with results projected to be released sometime in mid 2026.³

References:

1. Cambium Bio Successfully Closes A$3.0M Financing Round. Press Release; December 4, 2024. Accessed December 5, 2024. https://www.globenewswire.com/news-release/2024/12/05/2992047/0/en/Cambium-Bio-Successfully-Closes-A-3-0M-Financing-Round.html

2. Cambium Bio. Accessed December 5, 2024. https://www.cambium.bio/Our-Science

3. Cambium Bio, Corporate Presentation (December 2024). Published December 2, 2024. Accessed December 5, 2024. https://www.cambium.bio/Investors-and-Media