Luminopia, a Cambridge, MA-based commercial-stage company focused on treatments for neuro-visual disorders, raised $16M in Series A funding.
The round was led by U.S. Venture Partners with participation from new investor Broadfin Advisors, as well as support from existing investors, ShangBay Capital and Vertical Group. With the closing of the round, Casey Tansey, General Partner at USVP, will join Luminopia’s Board of Directors.
Led by CEO Scott Xiao, Luminopia is committed to creating digital therapeutics for neuro-visual disorders, that are both evaluated for FDA approval and engaging for patients.
The funding will be used to support the full commercial rollout later this year of the company’s lead product, Luminopia, a software-based therapeutic for amblyopia, commonly known as “lazy eye,” the leading cause of vision loss among children. Luminopia was approved by the U.S. Food and Drug Administration (FDA) through the De Novo pathway in October 2021 and is currently available for prescription-use only through eye care professionals. The company is currently being prescribed at top eye institutes and private practices across the country and is dispensed through a retail pharmacy.
Luminopia, indicated for improvement in visual acuity in children, aged 4-7 with amblyopia associated with anisometropia and/or with mild strabismus, allows patients to watch therapeutically modified TV shows and movies to improve their vision within a virtual reality (VR) headset and is the first FDA-approved digital therapeutic for children with amblyopia.
FinSMEs
28/06/2023