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news.Visiogen, a developer of products for cataract and refractive patients, has raised $40 million from new and current investors to support the global commercialization of the Synchrony dual optic accommodating intraocular lens.
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Lead investor Novartis Venture Fund, along with Technology Partners, made major contributions to this round of financing, which was also strongly supported by current investors Three Arch Partners, New Leaf Venture Partners, Prospect Venture Partners, CMEA Ventures and Foundation Medical Partners.
According to Visiogen, the Synchrony Accommodating intraocular lens (IOL) is intended for use in cataract and refractive patients and has a mechanism of accommodation that has been validated in multiple studies by multiple objective measures.
The Synchrony lens is supplied in a pre-loaded injector to facilitate ease of implantation and to eliminate lens handling. The lens has been implanted in over 1,000 patients to date, and is the subject of multiple comparative clinical studies in the US, Europe and South America.
Visiogen has completed its US investigational new drug study and will submit the results to the FDA in 2009, with premarket approval anticipated in 2010.
Reza Zadno, CEO and founder of Visiogen, said: “The funds we have raised will give us the flexibility and resources necessary to maximize the commercial impact of the Synchrony IOL. Our ability to raise capital from world-class investors in the current difficult economic climate is a testament to the significant market opportunity that exists for a next-generation accommodating IOL.”