The primary endpoint was missed in a Phase IIa study of Oxurion’s THR-317 in diabetic macular edema, but vision did improve in two patient subgroups.

With Jetrea being a disappointment on the commercial front, the Belgian biotech will hope that a new name will augur well for its pipeline of disease modifying compounds for diabetic eye disease.

Money may have become too tight to mention for many biotechs and the IPO window in Europe is not just shut but boarded up. However, big pharma’s need to replenish the pipeline has become urgent and the major players are looking to tap into the continent’s early-stage companies which are driving innovation and provide them with much-needed cash.