MacuLogix has completed a Series D round of financing totaling $38.7 million to further expand the MacuLogix team and company infrastructure to support the growing sales and practice integration efforts of the AdaptDx automated dark adaptometer, both domestically and internationally.
“AMD is the leading cause of adult blindness in the Western world because we haven’t had the technology or tools to effectively detect and manage this progressive, chronic disease – until now. Our company is determined to see AdaptDx functional testing become the standard of care, enabling eye care professionals to detect, treat and manage AMD earlier and more effectively,” William D. McPhee, President and CEO of MacuLogix, said in a company news release. “With this funding and the addition of Vivo Capital, we are fully backed by a strategic group of investors who support our company’s vision to eliminate blindness caused by AMD.”
With this round of funding, Jack B. Nielsen, Managing Director of Vivo Capital, Nathan Dau, Principal of Vivo Capital, and Carole Nuechterlein, Head of Roche Venture Fund will join the MacuLogix Board of Directors. The remaining Board members are:
William D. McPhee, President and CEO, MacuLogix
Gregory R. Jackson, PhD, Co-founder and Chief Technology Officer, MacuLogix
Stephen L. Rose, Managing Director of Fisk Ventures, LLC
Ronald P. Thiboutot, PhD, SVP of Science and Technology, Life Sciences Greenhouse of
“Maculogix is entering a rapid commercial expansion phase and is a very good fit for our investment strategy,” Jack B. Nielsen, Managing Director of Vivo Capital, said in the news release. “The AdaptDx is uniquely situated to help patients being diagnosed at an early stage of AMD and enable better and earlier monitoring and treatment of the disease.”
The investment was led by new investor Vivo Capital with participation from existing investors, Fisk Ventures, Roche Venture Fund, Berwind Private Equity and Life Sciences Greenhouse of Central Pennsylvania. To date, MacuLogix has raised a total of $51 million in venture funding plus $10 million in venture debt.
New Harbor Venture Partners acted as the exclusive placement agent in this transaction.