CBT-004 is indicated for vascularised pinguecula. Pinguecula is a round, yellowish, elevated tissue that develops on the conjunctiva adjacent to the cornea. Cumulative exposure to UV light is the main cause of pinguecula and UV-induced mutations of the gene may promote abnormal cell growth of pinguecula lesion. In general, an asymptomatic pinguecula requires no treatment, but its yellowish and raised contour can cause mechanical or poor tear film-related ocular surface irritation. When the lesion becomes vascularised and/or inflamed, it may lead to symptoms of ocular hyperaemia, discomfort, pain, foreign body sensation, tearing, and itching. The vascularization process is dependent on the vascular endothelial growth factor (VEGF) pathway. There is no FDA-approved therapy for the indication of vascularised pinguecula.

CBT-004 is a potent VEGF receptor inhibitor with sub nanomolar potency. The mechanism of CBT-004 for treating vascularized pinguecula is by blocking VEGF signal to reduce the abnormal vascularity. In addition, CBT-004 also inhibits platelet-derived growth factor receptors (PDGFRs) which are responsible for blood vessel maintenance. By inhibiting these angiogenic growth factors, CBT-004 has the potential to stop or reverse the progression of the pinguecula lesion.