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VisionCare closes $31-million round of Series E financing to launch implant for end-stage AMD
SARATOGA, Calif. — VisionCare Ophthalmic Technologies has successfully closed a round of Series E financing valued at $31 million to launch its implantable miniature telescope for end-stage age-related macular degeneration.
The round of financing was led by Saints Capital, with support from current investors Pitango Venture Capital, Three Arch Partners, Onset Ventures, and Newbury Acquisitions Fund/Infinity CSVC Management. First-time investors Giza Ventures, Generali Financial Holdings and BSI SA also contributed to the funding.
VisionCare plans to expand its sales and marketing capabilities to begin commercializing its telescope prostheses in the United States, with plans to penetrate additional markets, according to the release.
VisionCare's miniature telescope implant is part of the company's CentraSight patient care program, which provides patient management as well as reimbursement resources for both patients and physicians.
"We appreciate the commitments and support from our new and existing investors, which will help us play a growing role as a provider of novel treatments for sight-stealing diseases," Allen W. Hill, CEO of VisionCare, said in the release. "This financing round allows us to launch our CentraSight treatment program as we execute our commercialization plans for the telescope implant."