Atia Vision said today that it raised a $20 million Series D round for the intra-ocular lens it’s developing to treat far-sightedness.
Campbell, Calif.-based Atia, which spun out of the Shifamed incubator there, said the round was led by Cormorant Asset Management and included the Capital Partnership, AMED Ventures and Shangbay Capital. Proceeds from the round are earmarked for clinical work on its modular accommodating intraocular lens, Atia said. In August 2014 Shifamed applied for a U.S. patent for a hydrophilic “accommodating” intraocular lens. The device is comprised of 2 lenses and an adhesive portion between the lenses that forms a fluid chamber, according to the patent. Atia raised a $5 million Series A round in 2015.
“We are extremely pleased to close this latest round of financing with strong, continued support from our investors,” president & CEO Mariam Maghribi said in prepared remarks. “We look forward to furthering our clinical studies and demonstrating the performance of our technology, which aims to restore the full range of functional vision for patients suffering from cataracts and presbyopia.”
“Atia Vision’s proprietary technology represents an elegant advancement that uniquely addresses clinical challenges currently facing the visual impairment space, of which cataracts and presbyopia are the largest segments,” added Cormorant founder & CEO Bihua Chen. “We are proud to further strengthen our partnership with Atia Vision and look forward to delivering this next-generation solution to the ophthalmology market.”
Shifamed was also behind Apama Medical, which Boston Scientific (NYSE:BSX) acquired for $300 million in October 2017, and currently has Tioga Medical, NuVera Medical and Supira Medical in its hatchery.
