Clearside Biomedical, a clinical-stage company specializing in eye-disease treatments, has filed for Chapter 11 bankruptcy in Delaware, launching a high-stakes bid to sell the business while navigating a widening financial gap that has left the biotech firm with more liabilities than lifelines.
A Desperate Filing Amid a Deepening Financial Hole
The company’s late-Sunday filing reveals $8.7 million in assets against a towering $64 million in liabilities, according to documents attached to its petition. Clearside—known for supplying medical technology to Bausch + Lomb and other major ophthalmic product makers—told the court it plans to establish a structured auction process for its intellectual property.
CEO George Lasezkay said in a Monday statement that despite the company’s troubles, its core technologies remain highly valuable.
“We believe that we have attractive assets based on our clinically proven SCS Microinjector platform and associated intellectual property,” Lasezkay said.
The Technology at the Center of the Fight
Clearside’s most prominent innovation is its suprachoroidal space (SCS) microinjector, a device designed to deliver drugs to the back of the eye without surgery—an approach the company says can revolutionize treatment for several retinal diseases. In a first-day declaration, Lasezkay emphasized that the platform has shown compelling clinical potential and remains a cornerstone of the company’s value.
