PowerVision, Inc., a Belmont, CA-based medical device company developing fluid-based accommodating intraocular lens, completed a $30m Series D financing round.
New investors Aisling Capital and Correlation Venture Partners as well as existing investor, Venrock, added $10m to the $20 million closing earlier this year from existing investors (read here).
The company intends to use the funds to complete patient enrollment in the ongoing CE Mark study of the FluidVision™ accommodating intraocular lens, with patient enrollment expected to be completed by the end of the year and receipt of the CE mark and the subsequent launch of the U.S. pivotal study coming in 2015.
Led by Barry Cheskin, President & CEO and Co-Founder, PowerVision has developed lens designed to permanently restore clear vision at all distances for patients with cataracts and presbyopia. They mimick the eye’s natural accommodative process to change shape and adjust focus the way that young, healthy eyes do. The lens is implanted using the same surgical techniques as are used with traditional intraocular lenses.
The company’s investors now include Aisling Capital, Correlation Ventures, Advanced Technology Ventures, Frazier Healthcare, Venrock, Johnson & Johnson Development Corporation and Medtronic, Inc.
FinSMEs
17/06/2014