Japan-based Santen Pharmaceuticals’s US subsidiary has invested in Clearside Biomedical, a spin-out launched from research at Emory University and the Georgia Institute of Technology.

Clearside, a drug and technology developer for treatment of eye diseases, raised $7.9m from Santen, venture capital firms Mountain Group Capital and Hatteras Venture Partners, Georgia Research Alliance Fund and the University of North Carolina’s Kenan Flagler Business School Private Equity Fund.

Hatteras Venture Partners, Georgia Research Alliance and Kenan Flagler Venture Fund invested $4m to…