Kala announces submission of IND for KPI-012 for PCED treatment

Kala Pharmaceuticals announced the submission of an investigational new drug IND application to the U.S. Food and Drug Administration for KPI-012 for the treatment of Persistent Corneal Epithelial Defect . Subject to acceptance of the IND by the FDA, Kala remains on-track to initiate a Phase 2b clinical trial of KPI-012 for PCED in the fourth quarter of 2022. Topline safety and efficacy data from the trial is expected in the first quarter of 2024. If positive, this trial could serve as the first of two pivotal trials needed to support the submission of a Biologics License Agreement (BLA) to the FDA. Following acceptance of the IND for KPI-012 by the FDA, Kala will receive the second tranche from the private placement of securities announced earlier today which, together with current cash on hand, Kala expects will extend its projected cash runway into the first quarter of 2025. "We are pleased to announce the submission of the IND for PCED, which brings us an important step closer to our goal of delivering the promise of mesenchymal stem cell secretome based therapies to address severe ocular diseases," said Mark Iwicki, Chief Executive Officer and Chairman of Kala Pharmaceuticals. "This accomplishment is well timed with the investment commitment announced earlier today from a life sciences-focused investor, which reflects a belief in the power of our MSC-S platform to address significant unmet needs across a range of rare ophthalmic diseases and, in particular, the potential for KPI-012 to become the first approved prescription therapy indicated for PCED patients with a broad range of underlying etiologies. We look forward to initiating this trial before year end."