VisionCare Ophthalmic Technologies, Inc., a Saratoga, CA-based developer of advanced visual prosthetic devices designed to improve vision in patients with end-stage age-related macular degeneration (AMD), has closed a $31m Series E financing.
The round was led by Saints Capital, with participation from new investors Giza Ventures, General iFinancial Holdings, and BSI SA, and existing investors Pitango Venture Capital, Three Arch Partners, ONSET Ventures, and Newbury Acquisitions Fund/Infinity CSVC Management.
In conjunction with the funding, Elka Nir, Managing Director and head of the Life Sciences sector at Giza, will join VisionCare’s board of directors.
The company intends to use the new capital to launch its telescope prosthesis for end-stage AMD, which is one of the leading causes of blindness in older Americans. VisionCare will also develop its sales and marketing capabilities to begin commercializing the telescope prostheses in the United States, followed by other markets, as well as continuing to fund its research and development of new visual prosthetic devices for severe retinal disorders.
Led by CEO Led by Allen W. Hill, the company develops, manufactures, and markets implantable ophthalmic devices and technologies that are designed to improve vision and quality of life for individuals with untreatable retinal disorders. VisionCare’s Implantable Miniature Telescope was invented by company founders Yossi Gross and Dr. Isaac Lipshitz.