Claris Biotherapeutics raised $118 million in funding and outlined a Phase 3 development plan for CSB-001, an eye drop therapy targeting limbal stem cell deficiency. The company said it aims to start a pivotal trial in the first half of 2027 and expects data readouts less than two years after initiation. CSB-001 is based on oremepermin alfa, with Claris linking investigator observations that patients regain some vision after earlier corneal indications. The company said its program now focuses on limbal stem cell deficiency, where stem cell transplant surgery is currently the standard once vision loss becomes severe. Novo Holdings—controlling shareholder of Novo Nordisk—joined the round, with leadership appointments and board changes also disclosed alongside the financing. Claris is recruiting patients for a non-interventional study to understand disease natural history and support future trial enrollment. The funding reflects strong investor and strategic appetite for rare ophthalmic regeneration programs, where unmet needs can translate into concentrated clinical-development milestones.