Ophthalmic medical device company Implandata Ophthalmic Products announced that the company accomplished a first closing of its Series C funding round. The company was able to raise a “mid-single digit million Euro” amount from a strategic and several institutional and private investors.
Among the new investors were Heidelberg Engineering GmbH/Germany, Occident Group AG/Switzerland and NKB GmbH/Germany. The first closing is complemented by the existing investors, including KfW, HTGF, Peppermint Charité Beteiligungsfonds and several private investors and ophthalmologists. The company intends to complete the Series C-round by raising an “upper end single digit million Euro” amount by the fall of 2018.
“This first C-round closing enables us to diligently pursue commercialization of our CE marked Eyemate system for improved glaucoma care in Europe, to further advance our product pipeline, and to commence US regulatory activities,” Max Ostermeier, CEO of Implandata, said in the news release. “We are in particular excited about the competence and expertise of the new investors, enabling us to reach important value inflection points rapidly.”
“Continuous IOP monitoring is an exciting emerging field that may help identify novel patterns and hidden correlations with structural and functional measures of glaucomatous damage,” Kfir Azoulay, Head of Corporate Strategy at Heidelberg Engineering GmbH and a newly-appointed member to the Implandata Board of Directors, said in the news release. “We look forward to working closely with the Implandata team on advancing glaucoma research and patient care by utilizing our Spectralis OCT Platform, including our proprietary Glaucoma Module Premium Edition (GMPE), together with measurements obtained with the Eyemate implant”.
According to Implandata, in contrast to the sporadic readings obtained in standard clinical practice, the Eyemate system provides actionable IOP measurements throughout the 24 hour period, outside the eye care specialist office, while enhancing treatment options and contributing to reduced risk of glaucomatous vision loss. As the Eyemate system provides direct feedback to the patient in a home setting – information previously unavailable to the patient – therapy compliance is improved, as demonstrated in premarket studies. Additionally, Eyemate’s remote patient care capabilities allow for better quality and more efficient disease management, as the number of unnecessary office visits are reduced for a considerable number of patients, while the eye doctor obtains more and better information about the patient’s situation.