AcuFocus Closes $65M Financing
AcuFocus, Inc., an Irvine, California-based developer of an innovative corneal inlay for the treatment of near vision loss (presbyopia), closed a $65m financing.
The round was led by Cowen Healthcare Royalty Partners, with participation from existing investors SV Life Sciences, Versant Ventures, Carlyle Group, Accuitive Medical Ventures, and Bausch & Lomb, and Medtronic.
Cowen Royalty’s $30m investment included a $25m Synthetic RoyaltySM investment and participation in the $40m in equity financing.
The company intends to use the funding to scale the business by expanding commercially into new and existing markets on a global basis.
Founded in 2001 by the Innovation Factory, a medical device incubator based in Atlanta, Georgia, and led by President and Chief Executive Officer Ed Peterson, AcuFocus is developing the KAMRA www.KAMRA.com inlay, which is designed to create a small aperture effect, allowing the eye to see near and intermediate objects more clearly while maintaining distance vision.
The product is currently available in select markets across Europe, Asia-Pacific, Middle East and South America. It has CE mark for use in the European Union and is an investigational device in the United States.