VISIONCARE CLOSES $20 MILLION SERIES D FINANCING
VisionCare Ophthalmic Technologies, a developer of proprietary visual prosthetic devices for the treatment of age-related macular degeneration (AMD) and other central vision disorders, has closed a Series D financing totaling $20 million.
VisionCare intends to use the new capital to complete clinical development of the Implantable Miniature Telescope, to gain regulatory approval for the indication of end-stage AMD, and to build sales and marketing capabilities. The visual prosthesis is the only medical device in late-stage clinical development for the moderately to profoundly visually impaired AMD population, the company said.
The implant is designed to be a permanent medical treatment for visual rehabilitation of individuals with bilateral moderate-to-profound vision loss due to end-stage AMD, resulting from dry AMD or wet AMD -- treated or naturally resolved.