Calhoun Vision nets $69 mln
Calhoun Vision Inc, a provider of adjustable intraocular lens technology, has raised $69 million in funding. Longitude Capital led the round with participation from H.I.G. BioVentures, Balance Point Capital Partners and RA Capital Management.
PASADENA, Calif., June 4, 2015 (GLOBE NEWSWIRE) — Calhoun Vision, Inc. today announced the completion of $52 million in new financing, and an additional $17 million in debt conversion. Institutional investor Longitude Capital led the round, along with co-investors H.I.G. BioVentures, Balance Point Capital Partners, and RA Capital Management.
Calhoun has developed the first light adjustable intraocular lens that allows power correction by the physician following cataract surgery. The Company has recently completed enrollment of its 600-patient Phase III study of its proprietary technology. Proceeds from this financing will be used to continue supporting the U.S. Food and Drug Administration (FDA) pre-market process and for executing on the Company’s strategy to transform the landscape of cataract surgery for patients and physicians.
“This financing from prominent healthcare investors is a testament to Calhoun’s potential to solve an important unmet need in cataract surgery through postoperative IOL adjustability,” said Rick Heinick, President and Chief Executive Officer of Calhoun Vision. “With this financing, we will strengthen our team, support the company through the FDA submission process, advance our product pipeline, and execute our commercial strategy.”