Camras Vision has closed on $5.7 million in equity funding to be used to support four clinical trials globally, including a pilot study in the United States, to study the efficacy of the Camras device for the treatment of refractory glaucoma.
The funding was made in its Series A round led by VCapital, InFocus Capital Partners, and Triangle Venture Alliance. The funding round also includes returning Series Seed investors Triangle Angel Partners, IMAF Coastal Plain, and Pilot Mountain Ventures as well as additional new angel investors.
Camras’ novel device drains aqueous humor externally, avoiding scarring within the drainage site and potential failure associated with other incisional/shunt surgeries.
“We are pleased to have VCapital, InFocus Capital Partners, and TVA participating in our Series A financing, in addition to the ongoing commitment of our current investors,” Ray Krauss, CEO of Camras Vision, said in a company news release. “Our first in human trial overseas has been underway for the past 18 months and has shown encouraging preliminary results. Product refinements will continue as we move forward with additional clinical trial sites.”
“VCapital views Camras Vision as a life enhancing and life changing technology for those that struggle with the debilitation and vision loss from glaucoma. Camras has the potential to improve the daily lives of glaucoma patients”, said Len Batterson, Chairman and CEO of VCapital.
“InFocus Capital Partners has been a supporter of Camras’ breakthrough approach to the treatment of refractory glaucoma both as a seed investor and as a co-leader of the Series A round,” said Robert Rothman, MD, Managing Director. “Our fund is led by ophthalmologists and we are committed to providing capital to companies with seasoned management and disruptive technology that will change the way eye disease is treated in the future. Camras Vision has met and currently exceeds our expectations. We look forward to watching them continue the positive progress they have made so far.”
Dr. Rothman and his founding partner at InFocus, Ron Weiss, MD, are both academically-affiliated and board certified ophthalmologists.
“Researchers and scientists from universities across the Triangle region often join forces to collaborate on innovations,” said John Glushik, Managing Director of the Duke Angel Network. “Through the Triangle Venture Alliance, angel and investor networks from all these universities can also team up to provide critical support and funding for disruptive technologies such as the Camras Shunt.”