EyeYon Medical raises $25 million for corneal implants
The company has developed the world’s first synthetic implant that enables doctors to treat chronic corneal edema without the use of human tissue or corneal donations
Meir Orbach | 10:04 15.03.2021
Israeli life sciences company EyeYon Medical announced on Monday that it had raised $25 million in a series C investment round, led by a global strategic leader in the ophthalmic industry, whose identity the company refused to divulge and the CR-CP Life Science Fund, which invests in life science companies that develop drugs, cell therapies, medical devices, and smart healthcare technology. Other participants in the round include Global Health Sciences (GHS) Fund (Quark Venture LP and GF Securities), BPC and existing investors Triventures, Rimonci, Pontifax and Diamond BioFund. The company will use the funds to expand the clinical trials of its flagship product, the EndoArt, the world’s first synthetic implant which enables doctors to treat chronic corneal edema, or swelling of the eye tissue, with a minor invasive surgery that eliminates the need for human tissue. EyeYon Medical was founded in 2011 by Dr. Ofer Daphna, Nahum Ferera, who serves as the company’s CEO, and Dr. Arie Marcovich. The company has raised $36 million to date. Its technology is designed to eliminate the need for organ donation or implanting human tissue in the ophthalmic world. According to recent statistics, there are nearly 13 million people in the world on the list for corneal transplants, and only one out of 70 will undergo surgery.