ForSight Vision5, which is developing devices to treat front-of-the-eye conditions such as glaucoma and dry eye disease, said it pulled down a $15 million Series C round.
ForSight Vision5 is a spinout of ForSight Labs, a Menlo Park, Calif.-based incubator focused on developing ophthalmic treatments.
The Series C round was led by H.I.G. BioVentures of Miami, according to a press release. Prior backers Morgenthaler Ventures, Versant Ventures, Technology Partners, and Delphi Ventures also participated.
The company, which tapped medtech veteran John Maroney as CEO last year after closing on a Series B1 round worth $9.3 million, also said it closed enrollment in a Phase II trial of its lead product candidate, the Helios ocular implant. The 160-patient trial is a randomized, active-controlled study of the Helios insert in patients with glaucoma and ocular hypertension, ForSight Vision5 said.
"I am thrilled to have the support of H.I.G. BioVentures and our returning investors as we continue to advance our Helios insert and other product candidates through major technical and clinical milestones. Our investors have shown deep confidence in our team and programs with this level of commitment. I would also like to acknowledge our appreciation of our clinical investigators and their patients toward whom our efforts are dedicated," Maroney said in prepared remarks.
"We are very enthusiastic about the ForSight VISION5 investment opportunity. We believe that millions of patients with glaucoma and ocular hypertension will benefit from the company’s lead product candidate and we also see the potential to broaden the company’s impact as it develops additional products," added H.I.G. BioVentures managing partner Aaron Davidson, who was named to Vision5’s board as part of the C round.
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