Israeli ophthalmic firm EyeYon Medical, which makes technology to treat acute problems in the ophthalmic world, has completed a $25 million round of Series C funding.
The funding was led by a global leader in the ophthalmic industry and the CR-CP Life Science Fund.
The new raised capital will go to expanding clinical trials for EyeYon's flagship product, the synthetic corneal implant EndoArt. This implant is a first-of-its-kind innovation, and allows doctors to use a minimally invasive procedure in the treatment of chronic corneal edema without using corneal donations or human tissues.
This solution can help out the over 13 million people on the waiting list for corneal transplants, which are in short supply.
Clinical trials are already underway in European and Israeli medical centers, but they have reflected the implant's safety and efficacy.
The new round of funding will see EyeYon expand their trials and aim to receive approval from regulators in Europe, China and the US.
“The overwhelming interest in joining our latest funding round reflects the confidence that 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,” EyeYon CEO and co-founder Nahum Ferera said in a statement.
“Together with our team of clinical and medical device experts, we have developed a novel solution which has already shown groundbreaking results and safety in human trials. The latest investments position EyeYon Medical as a global pioneer in the ophthalmology space and in corneal care.”
“These resources will enable us to accelerate the clinical and regulatory phases in our key markets,” EyeYon co-founder and EndoArt inventor Dr. Ofer Daphna said.
“EndoArt will simplify corneal surgical procedures and can potentially empower any anterior segment surgeon to perform the surgery with a vision to eliminate the worldwide long waiting list for available human donor corneas.”