Chinese intraocular lens maker Wuxi Vision Pro said today it completed a $12.6 million (RMB ¥80 million) Series B round.
Investors in the round were Qiming Venture Partners and Ruijian Capital, the Shanghai-based company said.
Wuxi Vision Pro develops its own intraocular lens material at a manufacturing facility in Irvine, Calif., and produces the Leiming aspheric intraocular lenses which have won Chinese FDA approval and CE Mark approval in the European Union.
“I’m so glad to see Vision Pro Ltd. is growing rapidly. With Leiming aspheric IOLs successfully passing clinical trials and being put into the market, I am very optimistic about the future of the company and have committed to investing in the outstanding enterprise. I am confident in the ability of R&D and innovation shown by the Vision Pro Ltd. management team. I hope that Leiming will become a leading brand in China and will expand to international market,” Qiming Venture Partners managing partner Nisa Leung said in a press release.
The company estimates the cataract surgery market in China will grow approximately 20% per year, with a rate of more than 3,500 cataract surgeries per million individuals by 2020.
“With modern science and technology drastically changing human behaviors, excessive use of the human eyes has accelerated the aging of eyes and developing other eye disease among young people. These factors promote the need of rapid development of ophthalmic medical products. My company commits to researching and developing high-quality ophthalmic products and create a leading brand to meet the growing demand,” Wuxi Vision Pro founder Dr. Liao Xiugao said in a prepared statement.
