On December 30, 2024, KALA BIO, Inc., a clinical-stage biopharmaceutical company dedicated to the research, development and commercialization of innovative therapies for rare and severe diseases of the eye, announced it had entered into a securities purchase agreement with a select group of institutional accredited investors for the sale, in a private placement, of shares of its common stock and shares of its Series I Convertible Non-Redeemable Preferred Stock, for aggregate gross proceeds of approximately $10.75 million, before deducting offering expenses.

The private placement included participation from both new and existing investors, including SR One, Cormorant Asset Management, Woodline Partners and another life sciences-focused investor. KALA intends to use the net proceeds to advance the clinical development of KPI-012 for the treatment of persistent corneal epithelial defect, as well as for general corporate purposes.

The WilmerHale team advising KALA BIO included Stuart Falber, Scott Lunin, Andrea Sorrentino, Michaela Rosen, Cassie Shapiro, Heidi Treiber and Cindy Sullivan.