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Diabetic Macular Edema: 4 biotech companies with clinical-stage programmes

OphthalmologyOrphan cornerData as of 2026-09-04

Competitors4in the clinic
Median market cap$613Muniverse median $1.20B
Allocated capital$1.3B$3.9B competing
Phase 3 or filed21 mid, 1 early
Pure plays0this indication only
Capital rank129/299crowding rank 53

Diabetic Macular Edema sits in the orphan corner of the map: 4 developers, none of them large, with a median market cap of $613M against a $1.20B universe median.

A thin field of small caps usually means a narrow addressable population, so the whole field can be repriced by one readout or one financing.

KOD carries 58% of the $3.9B competing here, more than the other 3 companies combined.

$1.3B of allocated capital sits in Diabetic Macular Edema, ranking it 129th of 299 indications by the money committed to it.

Companies developing drugs for Diabetic Macular Edema 4

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
KODKodiak SciencesTabirafusp tedromerPhase 31$2.3BNo3 30 Sep 2026
EYPTEyePointEYP-1901Phase 32$394MNo2 24 Sep 2026
FDMT4D Molecular Therapeutics4D-150 IVTPhase 22$768MNo4 30 Sep 2026
OCGNOcugenOCU200Phase 11$458MNo3 24 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile. KOD holds 58% of the $3.9B competing in this indication.

Why Diabetic Macular Edema is a orphan corner

A thin field of small caps. Few competitors, none of them large.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Diabetic Macular Edema has 4 competitors and a median of $613M.

Ophthalmology

Ophthalmology holds $17.0B of the map's capital, 2.5% of the total, spread across 9 indications and 13 companies. 6 of those indications have more than one company competing.

See every Ophthalmology indication on the map

Related indications in Ophthalmology

Hereditary Transthyretin Amyloidosis1 company · $1.1B · median $9.7BUncontestedMacular Edema1 company · $758M · median $2.3BUncontestedLeber Congenital Amaurosis2 companies · $600M · median $300MOrphan cornerDry Eye Disease3 companies · $2.0B · median $706MOrphan cornerX-Linked Retinitis Pigmentosa1 company · $192M · median $768MUncontestedWet Age-related Macular Degeneration4 companies · $3.5B · median $1.5BConcentrated betStargardt Disease2 companies · $3.6B · median $3.7BConcentrated betGeographic Atrophy3 companies · $4.0B · median $918MOrphan corner

Diabetic Macular Edema pipeline questions

Which biotech companies are developing drugs for Diabetic Macular Edema?

Kodiak Sciences (KOD, Tabirafusp tedromer, Phase 3); EyePoint (EYPT, EYP-1901, Phase 3); 4D Molecular Therapeutics (FDMT, 4D-150 IVT, Phase 2); Ocugen (OCGN, OCU200, Phase 1). Those are the 4 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in Diabetic Macular Edema.

How advanced is the Diabetic Macular Edema pipeline?

Of the 4 clinical-stage programmes in Diabetic Macular Edema, 2 are in Phase 3 or filed, 1 is in mid-stage development and 1 is in early-stage development.

Which company leads the Diabetic Macular Edema field?

KOD is the largest developer in Diabetic Macular Edema, holding 58% of the $3.9B of market capitalisation competing in the indication. The median competitor is worth $613M.

When is the next Diabetic Macular Edema catalyst?

The next dated catalyst in Diabetic Macular Edema is EYPT on 24 Sep 2026. 4 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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