Inotek completes two stages of INO-8875 Phase 2b trial against glaucoma

Inotek Pharmaceuticals Corp., a leader in the development of innovative medicines to address significant diseases of the eye, today announced that the Company has successfully completed the first two of three stages of a multiple-dose Phase 2b clinical trial of its novel eye-drop candidate, INO-8875, in patients with glaucoma or ocular hypertension. Based on the achievement of this milestone, Inotek's investors have committed the final tranche of their previous $20 million funding round and have committed an additional $3.7 million to expand the final portion of the ongoing clinical trial by increasing the number of subjects and the duration of treatment in the final phase.

"INO-8875 continues to make significant progress in glaucoma clinical trials and importantly, to date, has demonstrated a very favorable safety profile," said Paul G. Howes, President and Chief Executive Officer of Inotek. "We believe that expanding the final stage of the Phase 2b study will produce a robust data package to support preparation for late-stage clinical trials and ongoing partnering discussions. We're pleased our current investors have responded to our success with additional financial support."

"INO-8875 improves outflow in the trabecular meshwork—a highly-promising, new mechanism to reduce intraocular pressure in glaucoma," commented Jerry Karabelas, Ph.D., Partner at Care Capital. "Inotek continues to demonstrate the potential of this candidate and is in line to be the first company in many years to market a truly novel approach to treating glaucoma."