Cell Care Therapeutics Inc., a biotechnology company based in Monrovia, announced Oct. 23 it had closed on a $4.3 million seed round from investors.

Executives at the three-year-old firm said the funds will boost development of the company’s lead preclinical stage drug to treat inflammatory eye diseases that can lead to blindness, including diabetic retinopathy and neovascular age-related macular degeneration.

Cell Care Therapeutics, which focuses on stem-cell derived therapies in ophthalmology, is working to pioneer the development of a regenerative immunotherapy to reduce inflammation, permit recovery and promote new tissue.

“The closing of this first round of financing is an endorsement of our novel approach of using stem cell secretions to modulate the immune system as an alternative to the more commercially challenging approach of using living cells to repair damaged tissue,” said Nicolas Sohl, its chief executive and cofounder, in a statement.

The company raised $1 million in August 2015 through the sale of a convertible note, according to Crunchbase, a data tracking firm.

Health business reporter Dana Bartholomew can be reached at [email protected]. Follow him on Twitter @_DanaBart.