Inotek gathers $18M as it plots PhII trials

Lexington, MA-based Inotek Pharmaceuticals has closed an $18 million preferred stock financing. New investor Devon Park led the round, with participation from existing investors Rho Ventures, Care Capital, Pitango Venture Capital, MedImmune Ventures, and Bio*One Capital. The developer is planning to launch two Phase II trials later this month for its eye drop drug INO-8875. The glaucoma treatment was shown in an earlier Phase I/II trial to significantly reduce intraocular...