Atia Vision, a Shifamed portfolio company developing a modular presbyopia-correcting accommodating IOL, announced initial closing of its committed $20 million Series D preferred stock financing.
“We are extremely pleased to close this latest round of financing with strong, continued support from our investors,” Mariam Maghribi, President and CEO of Atia Vision, said in a company news release. “We look forward to furthering our clinical studies and demonstrating the performance of our technology, which aims to restore the full range of functional vision for patients suffering from cataracts and presbyopia.”
Nearly 67 million people worldwide are visually impaired due to cataracts, which can lead to blindness if untreated. Atia Vision’s innovation addresses the unmet needs of cataract and presbyopia patients through a familiar conventional cataract procedure. The Atia Vision modular intraocular lens technology features an accommodating base responsive to the ciliary muscles, simulating the natural mechanism of the eye and fixed lens element that allows for subsequent refractive correction.
“Atia Vision’s proprietary technology represents an elegant advancement that uniquely addresses clinical challenges currently facing the visual impairment space, of which cataracts and presbyopia are the largest segments,” commented Bihua Chen, Cormorant Asset Management Founder and CEO. “We are proud to further strengthen our partnership with Atia Vision and look forward to delivering this next-generation solution to the ophthalmology market.”
Financing was led by Cormorant Asset Management, with participation by The Capital Partnership (TCP), AMED Ventures and Shangbay Capital. The financing will be used to advance Atia Vision’s clinical efforts.