LumiThera completes Series C funding tranche

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LumiThera has completed the second tranche of its Series C funding round to support clinical testing and commercialization of the Valeda light delivery system in dry age-related macular degeneration, according to a press release.

The funding round was led by WaterStar Capital.

“We are pleased with the investor interest in the company and have raised over $10 million in the current C round,” Clark Tedford, PhD, president and CEO of LumiThera, said in the release. “The capital raised will allow us to execute on our European and U.S. multicenter clinical trials.”

In addition, the company recently signed a distribution agreement with Optos to sell the Valeda system in 12 European countries, the release said.