EyeYon Medical, a Tel Aviv, Israel-based company that develops advanced technology to treat acute problems in the ophthalmic world, closed a $25m Series C funding round.
The round, which brings the company’s valuation to $36m, was led by a global strategic leader in the ophthalmic industry and CR-CP Life Science Fund with participation from Global Health Sciences (GHS) Fund (Quark Venture LP and GF Securities), BPC and existing investors Triventures, Rimonci, Pontifax and Diamond BioFund.
The company intends to use the funds to expand the clinical trials of EndoArt.
Founded in 2011 by Dr. Ofer Daphna, CEO Nahum Ferera MD, and Dr. Arie Marcovich, MD., EyeYon Medicalv is advancing the EndoArt®, a synthetic implant which enables doctors to treat chronic corneal edema with a minimally invasive surgery that erodes the use of human tissue. Clinical trials are already underway in selected medical centers across Europe (IVRC in Heidelberg, Instituto de Microcirugia Ocular (IMO) in Barcelona, and AMC in Amsterdam) and in Israel (Soroka Medical Center, Rambam Health Care Campus, Tel Aviv Sourasky Medical Center and Barzilai Medical Center).
Following the new investments, the company will expand its clinical trials with the aim to receive regulatory approval in the USA, China and Europe.