Financing is expected to support modular Presbyopia-Correcting accommodating Intraocular Lens technology
Atia Vision, Inc., a Shifamed portfolio company committed to improving patient outcomes through the development of a modular presbyopia-correcting accommodating intraocular lens, today announced the closing of its second tranche of a Series D $20M financing. Led by Cormorant Asset Management, with participation by The Capital Partnership (TCP), AMED Ventures and Shangbay Capital, the financing will be used to continue early clinical experience treating cataract patients and support expansion of Atia Vision’s facility.
“We are pleased to have early clinical evidence demonstrating accommodation, the ability of the eye to change its focus between distant and near objects,” commented Mariam Maghribi, President and CEO of Atia Vision. “The team is leveraging valuable learnings from our initial clinical work and incorporating feedback to quickly iterate and implement meaningful product improvements. We look forward to continuing our clinical efforts, including additional clinical sites, and expanding our production capabilities in the coming months.”
Nearly 67 million people worldwide are visually impaired due to cataracts, which can lead to blindness if untreated.1 Atia Vision’s innovation addresses the unmet needs of cataract and presbyopia patients through a familiar conventional cataract procedure. The Atia Vision modular intraocular lens technology features an accommodating base responsive to the ciliary muscles, simulating the natural mechanism of the eye and fixed lens element that allows for subsequent refractive correction.
“We are pleased to further support Atia Vision and are confident its proprietary technology will deliver a much-needed solution to the visual impairment space,” stated Casey Gordon, Head of Private Investments at The Capital Partnership. “The novel modular design has received positive feedback from industry and key opinion leaders, confirming its value to patients suffering from cataracts and presbyopia, the largest segments of the ophthalmology market.”
Source: Company Press Release