LumiThera Inc., a Seattle, WA-based commercial stage private medical device company, creating a multi-wavelength photobiomodulation (PBM) treatment for ocular disorders and diseases, raised approximately $14M and completed its Series C financing.
The round was led by WaterStar Capital, with participation from Imagine Ventures, Keiretsu Capital, Water Star Mercury Fund, Nikon Corporation and Celeste Management.
The company intends to use the funds for the further commercialization of its Valeda Light Delivery System for the treatment for dry Age-related Macular Degeneration (AMD), to complete its LIGHTSITE III U.S. clinical trial enrollment, and to pursue regulatory clearance of Valeda in the USA.
Led by Clark Tedford, Ph.D., President and CEO, LumiThera is a commercial-stage medical device company focused on treating people affected by ocular disorders and diseases including dry AMD, a leading cause of blindness in adults over 65 and Diabetic Retinopathy, the leading cause of blindness in the world.
The company is a leader in the use of PBM for treatment of acute and chronic ocular diseases and disorders developing the office-based Valeda Light Delivery System to be used by eye care specialists for medical treatment. The system has been granted authorization to use the CE Mark by an EU Notified Body as required for commercial use in the European Economic Area only. It is not approved for use by the Food & Drug Administration (FDA) in the USA.
The company is currently completing enrollment in two prospective, randomized, double masked, clinical trials; the LIGHTSITE II study in Europe and LIGHTSITE III study in the U.S., using the Valeda Light Delivery System. Additional trials are in the planning stage for Diabetic Macular Edema (DME) and AMD patients.