Abstract: A composition is described herein for administering with a sustained release kinetic a therapeutically effective amount of a therapeutic agent to a subject in need thereof for treating diseases or conditions of the eye, wherein the composition is an water-in-oil type emulsion comprising an oil phase, a lipophilic surfactant dissolved in the oil phase, an aqueous phase dispersed in the oil phase, a hydrophilic therapeutic agent dissolved in the aqueous dispersed phase, and wherein the composition is intraocularly injectable, wherein the composition has a density lower than 1. Some embodiments also relate to a pharmaceutical composition or to a medicament comprising a composition described herein, and to a method for treating a condition or disease of the eye comprising administering a therapeutic amount of a composition described herein.