Kala Pharmaceuticals received the funding from Crown Venture Fund, Third Rock Ventures, Lux Capital Management and Polaris Venture.
The macular degeneration treatment is the first to be developed that will not need to be delivered to the eye via injection.
Kala Pharmaceuticals was founded in 2009 by Justin Hanes of Johns Hopkins University in Baltimore, Bob Langer of MIT in Cambridge, Mass., and Colin Gardner formerly of Johnson & Johnson, based in Brunswick, N.J.
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