Kala Pharmaceuticals, a developer of ophthalmic products, has closed its Series B round of financing at $22.5 million. The round was led by new investor Ysios Capital with participation from current investors including Crown Venture Fund, Lux Capital, Polaris Partners and Third Rock Ventures. As part of the financing, Karen Wagner of Ysios will join the Board of Directors at Kala. The company plans on using the financing to advance clinical development of the company's topical eye drop program. The financing is nearly double Kala's earlier $11.5 million financing in February 2013, which gave it a postmoney valuation of nearly $28 million.