Clearside Biomedical to Pursue Strategic Sale of its Business Through Voluntary Chapter 11 Process

Core Insights - Clearside Biomedical, Inc. has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, aiming to maximize stakeholder value through a structured auction and sale process [1][3][2] Company Overview - Clearside is a biopharmaceutical company focused on revolutionizing therapy delivery to the back of the eye via the suprachoroidal space (SCS) [17] - The company has developed the SCS Microinjector, which allows for targeted, non-surgical delivery of therapies to treat various sight-threatening eye diseases [17][11] Financial and Operational Strategy - The company intends to continue normal operations during the bankruptcy process and has filed motions to facilitate this [2] - Clearside's assets include a clinically validated SCS Microinjector platform, multiple licensing agreements, and a pipeline of product candidates, including the CLS-AX program for wet AMD and diabetic retinopathy [2][12] Product Pipeline - The SCS Microinjector has received FDA approval for its first product, XIPERE, which is used for treating uveitic macular edema [7][14] - The CLS-AX program is in advanced clinical stages, with positive results from Phase 1/2a and Phase 2b trials for wet AMD, and plans for a Phase 3 trial are underway [12][16] Licensing and Partnerships - Clearside has established multiple licensing agreements for its SCS Microinjector technology, partnering with companies like Bausch + Lomb and AbbVie [11][12] - The company has also engaged in a Purchase and Sale Agreement to manage royalty rights related to its products, enhancing its financial position [12]