The ophthalmology-focused drug developer, which is backed by pharmaceutical company Novo, plans to use the money to further test its lead product candidate.

PanOptica, a US-based ophthalmology treatment developer backed by pharmaceutical firm Novo, has received $11m in series B funding from venture capital firms Third Rock Ventures and SV Health Investors.

Founded in 2009, PanOptica develops therapies for ophthalmology with a focus on neovascular age-related macular degeneration, a condition also known as wet AMD, which leads to a blurring or loss of vision.

The series B capital will fund a phase 1/2 study for PanOptica’s lead product candidate, PAN-90806, an eye drop therapy…