Study to Assess the Efficacy and Safety of LX201 for Prevention of Corneal Allograft Rejection Episodes and Graft Failure in Subjects at Increased Immunological Risk

Inclusion Criteria: * Subjects are candidates for a corneal transplant and are at increased immunological risk for graft failure, as evidenced by one or more of the following: * ≥ 1 quadrant deep corneal vascularization * verifiable history of graft failure due to rejection * position of graft is \< 1 mm from the limbus Exclusion Criteria: * Any condition that would greatly increase the risk of non-rejection graft failure such as Stevens-Johnson syndrome, xerophthalmia or severe exposure keratitis. * Schirmer's test ≤ 5 mm in 1 minute * Clinical evidence of limbal stem cell deficiency * History of or active herpes simplex virus keratitis or other acute corneal infection * Subjects who have had \> 3 failed grafts in the study eye * Uncontrolled glaucoma as evidenced by an intraocular pressure of \>21 mmHg while on maximal medical therapy * Clinically suspected or confirmed ocular lymphoma * Treatment with a systemic immunosuppressive regimen within the previous 30 days; systemic prednisone (or its equivalent) of ≤ 10 mg daily is, however, permitted. * Any implantable corticosteroid-eluting device (e.g., Retisert™, Posurdex®, Medidur™, I-vation™ TA intravitreal implant) * Subjects who periodically require high-dose systemic steroid treatment (e.g., for exacerbation of chronic obstructive pulmonary disease). * Subjects who have received treatment with a monoclonal antibody or any other biologic therapy within the previous 90 days or alemtuzumab within the previous 12 m…