SARcode sees Phase III for dry eye drug

If SARcode Bioscience Inc.’s vision stays in focus, there won’t be a dry eye in the house.
Aiming to take advantage of a dearth of effective treatments on the market today, the Brisbane company closed a $44 million venture round that sees it through the first of potentially three late-stage trials for dry eye disease.
That is nearly as far as anyone else has reached with a dry eye drug over the past few years. “Nine have failed in dry eye, so there’s skepticism among investors,” said SARcode CEO Quinton Oswald.