The market for new treatments for “back of the eye” diseases surged in recent years, driven in part by the need to move beyond injections required to be administered every 4-8 weeks. Ocular Therapeutix, Inc. (NASDAQ:OCUL), a nearly 20-year-old company, develops drugs for eye diseases based on its Elutyx bioresorbable hydrogel-based formulation technology. While it has two drugs on the market, the company attracted a $325 million private placement on February 22 based on advancing Axpaxli (axitinib intravitreal implant) to treat wet age-related macular degeneration (wet AMD).