Inotek Pharmaceuticals Corp., a leader in the development of innovative products for the treatment of glaucoma, today announced that it has closed on a $21 million financing. Proceeds from this financing will be used to advance Inotek's lead product, trabodenoson, a novel eye drop that increases aqueous fluid outflow via the eye's trabecular meshwork, through Phase 2 studies in glaucoma. Later this year, Inotek expects to initiate a Phase 2 study designed to evaluate the efficacy and safety of trabodenoson when combined with latanoprost for the treatment of glaucoma patients whose intraocular pressure (IOP) is not well controlled by latanoprost therapy alone. All of the company's existing investors, including Devon Park Bioventures, Rho Ventures, Care Capital, Medimmune Ventures and Pitango Venture Capital, participated in the financing. Concurrent with the equity financing, Inotek also secured $7 million in venture debt led by Horizon Technology Finance Corporation (NASDAQ: HRZN).