On March 15, EyeYon Medical announced the completion of a USD 25 million Series C financing jointly led by CR-CP Life Science Fund and a global leading enterprise in the ophthalmology industry. Other participants in this round include Global Health Sciences (GHS) Fund (Quark Venture LP and GF Securities), BPC and its original shareholders, including Triventures, Rimonci, Pontifax and Diamond BioFund, providing sustained and stable support to the company.
The new capital will be used for the clinical trials of EyeYon's flagship product, the EndoArt®, an artificial endothelial layer to treat chronic corneal edema. The clinical trials will be conducted in the United States, China and Europe. At present, the product is FDA approved with a BTD granted, and is granted innovation status by NMPA.
"The overwhelming interest in joining our latest funding round reflects the confidence 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," said Nahum Ferera, Co-Founder and CEO of EyeYon Medical. "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," said Dr. Ofer Daphna, Co-founder and the inventor of the EndoArt®. "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."
Richel Liu, CEO of Rimonci, said: "As the earlier stage investor, we continuously feel confident about the company's promising solution. We also believe that leveraging NMPA Innovation channel approval will facilitate the EndoArt® clinical penetration in China and make a contribution to eliminate China cornea blindness."
"CR-CP is pleased to support EyeYon Medical on this innovative and meaningful advancement. We are confident that this will benefit underprivileged patients via affordable yet efficient treatment," said Da Liu, Managing Director of CR-CP Life Science Fund.
