Ciliatech, a Chavanod, France-based ophthalmology medtech company, raised €3.5M in funding.
This Series A funding is composed of:
- €1.75M in capital, and
- €1.75M in bank loans.
Founded in 2017 by CEO Olivier Benoit and Philippe Sourdille, Ciliatech is a medtech company specialized in ophthalmology that is developing a new class of implant to address the need to treat glaucoma durably and with zero adverse effects. Its CID (Cilio-scleral Inter-positioning Device) implant aims to reduce intraocular pressure (IOP) without penetrating the anterior chamber or creating subconjunctival filtration – overcoming serious complications and shortcomings of other glaucoma surgical techniques. As CID is inserted between only two areas of the eye (uniquely between the ciliary body and the sclera), it offers the advantage of unlocking the natural uveoscleral pathway without altering the anterior segment of the eye.
The company intends to use the funds to achieve key R&D milestones and fulfil the regulatory affairs requirements to obtain CE mark approval by the end of 2024. It will also continue its clinical research program. The recruitment and roll-out of a new trial, which will start in Q2, 2023 in Europe, will gather knowledge about the safety and performance of CID in various patient populations and clinical settings.
FinSMEs
25/04/2023