Israel's EyeYon Medical has completed a $25 million round in a Series C funding, led by a global strategic leader in the ophthalmic industry and CR-CP Life Science Fund, the company announced Monday.
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EyeYon Medical was founded in 2011 by Dr. Ofer Daphna, CEO Nahum Ferera MD, and Dr. Arie Marcovich, MD.
The new capital will be used to expand the clinical trials of EyeYon Medical's flagship product, the EndoArt, the first synthetic implant that enables doctors to treat chronic corneal edema with minimally invasive surgery.
The EndoArt was created in an effort to ease global shortages of corneal donations. Clinical trials underway in Europe (at 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) have demonstrated the safety and efficacy of EyeYon Medical's technology.
EyeYon Medical plans to expand its clinical trials to receive regulatory approval in the US, China and Europe.
"The overwhelming interest in joining our latest funding round reflects the confidence investors have in our unique and disruptive technology and its tremendous ability to address the clinical challenges and the huge market opportunity in the growing corneal implants market," Ferera said.
