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Visiogen raises $40 million in equity financing for dual-optic accommodating IOL

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IRVINE, Calif. — Visiogen has raised $40 million in Series E financing from new and current investors to commercialize its Synchrony dual-optic accommodating IOL, the company announced in a press release.

First-time investors Novartis Venture Fund and Technology Partners made major contributions to this round of financing, with additional backing supplied by existing investors Three Arch Partners, New Leaf Venture Partners, Prospect Venture Partners, CMEA Ventures and Foundation Medical Partners, the release said.

Since Visiogen's last round of financing in 2007, the company has completed a phase 3 study of the Synchrony IOL in the United States and has already begun commercializing the device in Europe. Visiogen has also completed its U.S. Investigational Device Exemption study and will submit results to the U.S. Food and Drug Administration later this year.

Visiogen expects to receive premarket approval for the Synchrony IOL next year.