Ocugen secures $22.5M and names new CFO ahead of pivotal gene therapy filings
Ocugen has made two major announcements in early 2026. The biopharmaceutical company secured $22.5 million through a private share placement on January 23. Just weeks later, it named Rita Johnson-Greene as its new chief financial officer, effective February 9. Her appointment comes as Ocugen prepares to submit its first Biologics License Application (BLA) this year for gene therapies targeting rare eye diseases.
The private placement involved 15 million shares sold at $1.50 each, raising gross proceeds of $22.5 million. This funding boost follows a period of volatility for Ocugen's stock, which currently trades at $1.13—a 24.5% drop over the past 30 days. Despite fluctuations, the share price remains well above its 52-week low of $0.49.
Rita Johnson-Greene brings over two decades of healthcare experience to her new role. She most recently served as Chief Operating Officer at the Alliance for Regenerative Medicine (ARM). Before that, she held senior positions at Genetix Biotherapeutics and Spark Therapeutics, where she supported the launch of gene therapies. Her expertise includes cell and gene therapy, areas critical to Ocugen's pipeline.
Her compensation package includes a $440,000 annual base salary, a 45% target bonus, and a $90,000 sign-on bonus. She will also receive 750,000 stock options and 500,000 Restricted Stock Units (RSUs), vesting over three years. Ramesh Ramachandran, the current principal financial officer, will transition to Chief Accounting Officer.
Ocugen's regulatory strategy has evolved after facing extended FDA reviews for LUXTURNA and ZYNTEGLO, both acquired from Novartis in 2019. The company now prioritises early FDA engagement, streamlined manufacturing, and pre-submission meetings to speed up approvals for OCU400 and OCU410. These therapies target rare genetic eye diseases, with OCU400 and OCU410 on track for BLA and Marketing Authorisation Application (MAA) submissions in 2026.
Positive Phase 2 results for OCU410, part of the ArMaDa trial, showed a 46% reduction in lesion growth for mid and high doses compared to controls. After 12 months, 50% of participants responded to treatment, with no serious adverse events linked to OCU410.
Johnson-Greene's arrival strengthens Ocugen's leadership as it advances its gene therapy programmes. The company plans to submit its first of three BLAs in 2026, with OCU400 also nearing regulatory filings. The new funding and strategic hires position Ocugen for key milestones in the coming year.
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