Ocugenix Corp. has raised $350,000 of venture funding in the form of convertible debt from undisclosed investors, according to PitchBook. The Pittsburgh startup, which was founded in 2015 and spun out of the University of Pittsburgh, is developing a cancer immunotherapy drug intended to treat eye diseases. The company’s immunotherapy drug is a medicine against drug-resistant bacteria, enabling doctors to perform a cancer-related eye treatment.

Ocugenix raised $100,000 of seed funding from Innovation Works in 2017, in order to advance its clinical trials.

The company is led by CEO and President Sean McDonald, who is a veteran Pittsburgh life science entrepreneur.