Ocuphire Pharma has announced late phase II clinical trials can begin on its eye drop Nyxol after receiving $5 million investor funding to further develop the drug.

Phase I and phase II trials proved successful in reducing pupil size (leading to improved night and day vision) and significantly lowering intraocular pressure, with once-daily dosing. The US company hopes Nyxol will eventually be used for night vision disturbances, glaucoma and the reversal of mydriasis. It is also exploring a fixed-dose combination for the treatment of presbyopia.

CEO Nina Sooch said, “We are excited about the potential to improve eye health and vision quality for millions of people around the world, particularly meeting the unmet needs of those with progressive, age-related ocular diseases.”