ELENZA Inc. (formerly Ocular Optics, Inc.), a Roanoke, Virginia-based developer of AutoFocal Intraocular Lens to correct presbyopia, completed a $24m Series B round of financing.
Investors include original shareholders The Carlyle Group and Delphi Ventures, and new backers Itochu Corporation and a strategic corporate partner from the ophthalmic industry.
The company intends to use the capital to support the clinical development and technology commercialization of its patented Electro-active AutoFocal Intraocular Lens and fund clinical and regulatory activities required to obtain CE mark in Europe and other international markets. ELENZA plans to establish a European office in Zürich, Switzerland in the Spring of 2011.
The company will be led by President and CEO Rudy Mazzocchi. Amitava Gupta, PhD, will serve as Chief Technical Officer.
ELENZA, Inc. is developing Electro-active AutoFocal Intraocular Lens (IOL) that use a proprietary combination of chemistry, electricity, and integrated-circuitry to create smart optics, which will provide patients with the ability to see more naturally and clearly over a range of vision.
The technology, which was initially developed by Ocular Optics, includes an Electro-active switchable optical element that automatically adjusts focusing power electronically, to maintain constant in focus vision for various working needs and/or light environments.
The lens is controlled by a micro-sized power-cell with an expected 50 year rechargeable cycle life.