The sixth company to come out ophthalmology incubator ForSight Labs said today that it raised $3.0 million from a syndicate of nine unnamed investors.
Forsight Labs has a record of successful spinouts. In YYadte Allergan (NYSE: AGN) agreed to pay $95 million for ForSight Vision5 and its Helios drug-eluting ophthalmological implant, with a possible milestone payment for launching its drug-eluting device.
The Helios ring is designed for extended drug delivery and for reducing intraocular pressure in glaucoma patients. The Helios is designed to rest on the surface of the eye under the eyelids to release bimatoprost over multiple months to lower IOP in glaucoma and ocular hypertensive patients.