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Elenza completes $24 million round of Series B funding to develop electronic IOL
ROANOKE, Va. — Elenza has completed a $24 million round of Series B financing to develop and commercialize its patented presbyopia-correcting Electro-active AutoFocal IOL, the company announced in a press release.
The round of financing was led by returning investors Carlyle Group and Delphi Ventures, with support from new investor Itochu Corporation, as well as an undisclosed corporate investor in the ophthalmic industry.
The accommodating IOL employs Elenza's proprietary chemistry, electricity and integrated circuitry to create "smart optics" that allow patients to see in near, intermediate and distance zones with more clarity, according to the release.
The lens contains an electro-active switchable optical element that automatically adjusts focusing power electronically to maintain constant in-focus vision in a range of light environments. The lens is powered by a micro-sized power cell with a rechargeable life cycle of more than 50 years, the release said.
The capital placement will also help fund the clinical development required to obtain CE mark certification in Europe and other international markets. Elenza intends to establish a European office in Zurich, Switzerland, later this year.
While originally developed by PixelOptics, Elenza owns exclusive licensing rights to the implantable lens technology.