EyeMed Technologies has closed an over-subscribed $5M series A round led by a strategic investor, the company has announced.
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The funding will be used to accelerate EyeMed's R&D pre-clinical tests and execution of a first-in-human study of the VaLens™, which is an intra-ocular lens (IOL) in development to enable cataract surgeons to precisely adjust the position and as a result also the power of the lens, non-invasively, in a postoperative and simple treatment following cataract surgery.
"Cataract surgery is the most frequent surgical procedure in medicine today, with about 30M surgeries performed annually. The problem is that a significant number of patients still need glasses or to have additional corrective medical procedures following their lens replacement, which is part of a cataract surgery. We are developing the VaLens™ to enable the surgeon to adjust the lens position post-surgery, in a non-invasive, simple treatment, in the comfort of the doctor's office. The patient will have the best visual acuity and glasses off following the procedure," Nir Israeli, chairman and co-founder of EyeMed, said.
EyeMed's Chief Medical Officer Dr. Ruth Lapid said, "The VaLens™ is foldable, injectable, and postop adjustable. Currently, we are using highly accessible and affordable system components. The VaLens™ will be used during an in-office visit, as it has a mechanism that can be activated by a simple continuous green laser found in most ophthalmic clinics. Most importantly, it is being designed to empower cataract surgeons to adjust and tailor any post-operative residual refractive error, to the needs of the patient."
