Qlaris Bio, a clinical-stage biotechnology company targeting unmet needs in debilitating ophthalmic diseases, today announced that it has closed a $24 million Series B financing round. Co-led by Canaan and New Leaf Venture Partners, the financing also included new participation from funds managed by abrdn Inc., as well as existing investors Mayo Clinic Ventures and Correlation Ventures.

Qlaris Bio was founded in August 2019 with a singular focus: to develop novel, innovative therapies with first-in-class mechanisms of action to address serious and debilitating ophthalmic diseases. The company's lead program, QLS'111, uses ATP-sensitive potassium channel modulators that improve outflow through distal vascular tissues of the eye to reduce IOP.