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NeoVista receives $41 million in venture capital financing

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FREMONT, Calif. — NeoVista closed a third round of private financing after receiving a total of $41 million in venture capital from new investors, the company announced in a press release.

The funds will help the company develop an intraocular radiation device for treating exudative age-related macular degeneration. The device uses ionizing radiation from a strontium-90 isotope to retard new vessel growth, according to the company's Web site.

NeoVista hopes to begin a clinical trial of the device in 2007, the press release said.