Luminopia closes $16 million in oversubscribed Series A financing
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Key takeaways:
- Luminopia secured $16 million in oversubscribed Series A financing.
- The funding will support the commercial rollout of the company’s amblyopia therapeutic later this year.
Luminopia closed an oversubscribed $16 million Series A financing round, which will be used to support the commercial rollout of the Luminopia software-based therapeutic for amblyopia later this year, according to a press release.
The funding was led by U.S. Venture Partners, with support from new investor Broadfin Advisors and existing investors ShangBay Capital and Vertical Group.
The Luminopia product received approval through the de novo pathway from the FDA in 2021 and is indicated for improvement in visual acuity in children aged 4 to 7 years with amblyopia associated with anisometropia and/or with mild strabismus, according to the release.
“We are thrilled to announce the successful close of our oversubscribed Series A round, which will allow us to advance our mission of pioneering a new class of treatments for the 15 million Americans who suffer from neuro-visual disorders,” Scott Xiao, co-founder and CEO of Luminopia, said in the release. “This significant investment not only reinforces the potential of our clinically validated amblyopia treatment, but also enables us to bring the first new therapy in decades to patients across the U.S.”
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