OKYO Pharma Limited (NASDAQ: OKYO) gave back some ground Thursday. The London-based ophthalmology-focused bio-pharmaceutical company, which is developing urcosimod to treat neuropathic corneal pain, an ocular condition associated with chronic and often severe nerve-related pain but without an FDA-approved therapy, today announced it has received $1.9 million in non-dilutive funding to support its ongoing research and development programs.
The funding will specifically accelerate the clinical development of urcosimod, OKYO’s lead drug candidate for the treatment of Neuropathic Corneal Pain — a severely debilitating ocular condition with no FDA-approved treatments.
The funds are anticipated to strengthen OKYO Pharma’s ability to execute on its development strategy without impacting existing shareholder equity. The capital will be used to advance key clinical milestones, expand R&D efforts, and build momentum behind urcosimod’s regulatory pathway.
“This non-dilutive funding is a significant milestone for OKYO Pharma and allows the company to drive innovation and accelerate solutions that could improve patient outcomes,” said CEO Gary S. Jacob.
“Neuropathic Corneal Pain is a devastating and underdiagnosed condition with no approved therapies. These funds allow us to aggressively pursue our mission of bringing urcosimod to patients who desperately need relief, without diluting shareholder value. It’s an exciting step forward for our company and for the field of ocular pain treatment.”
OKYO shares ditched nine cents, or 3.1%, to $2.87.
