CLSD is a late-stage clinical biopharmaceutical company developing first-in-class pharmacological therapies to treat blinding diseases of the eye. Their current product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment. With their proprietary microinjector, drugs are injected into and spread through the suprachoroidal space (SCS), which is the space located between the choroid and the outer protective layer of the eye known as the sclera. With the suprachoroidal injection, their product candidates seem to be more directly administered to the retina and choroid as compared to other ocular drug administration techniques such as injections of drug into the vitreous, a jelly- like substance that occupies the central portion of the eye. Intravitreal injections rely on diffusion of drug outward from the vitreous to the retina and choroid. This diffusion can result in lower concentrations of drug in these targeted areas. At the same time, this diffusion can also result in drug spreading to unintended parts of the eye, where, for some drugs, it can cause significant side effects. CLSD believes treatment of eye disease via suprachoroidal injection of product candidates may provide lower frequency of administration and faster onset of therapeutic effect. Through a 505(b)(2) approach, they have programs in uveitis (macular edema due to non-infectious uveitis), retinal vein occlusion (RVO) as well as diabetic macular edema (DME).