AcuFocus raises $66m

AcuFocus, which makes the Kamra eye inlay for treating nearsightedness, said it raised $66 million in a new round of financing with funds slated to support accelerated commercialization of its products.

The round was led by global investment firm KKR, Irvine, Calif.-based AcuFocus said.

“We are honored that KKR has chosen to make AcuFocus its 1st investment in the ophthalmic space. Through this partnership, and the continued support of our current investors, we look forward to driving the company into a global market leadership position in presbyopia and cataract surgery,” AcuFocus board chair Bill Link said in a prepared statement.

With the investment, AcuFocus said it will be able to initiate a controlled commercial launch of its Kamra corneal inlay in the U.S. and pursue CE Mark approval in the European Union for its IC-8 intraocular lens.

“This investment is a critical catalyst for the company. KKR’s confidence in our technology, along with its track record in successfully scaling businesses, will allow us to execute aggressively on growth plans to bring our disruptive small aperture technologies to full commercialization,” AcuFocus prez & CEO Al Waterhouse said in a press release.

The company said it will also use funds to continue research and development projects utilizing its small aperture platform and expertise.

“AcuFocus is a unique ophthalmic device platform with a differentiated set of products, strong patient outcomes and an accomplished management team. We are confident that these technologies will play an important role in the way in which surgeons treat presbyopia and cataracts. We look forward to supporting the management and employees of AcuFocus in bringing these products to patients worldwide and accelerating the Company’s growth plans,” KKR Americas Health Care investing team principal Arjun Arora said in prepared remarks.

In July, AcuFocus said it raised nearly $1.9 million in a round of debt funding.

The company said in a regulatory filing that the round included 14 unnamed investors. The company hopes to raise a total of $2.5 million, according to the filing. The company pulled in nearly $4.1 million an another debt round in March.

Kamra won FDA approval in April 2015 after a narrow win at an advisory panel hearing and has been implanted more than 1,000 times, according to AcuFocus.

The post AcuFocus raises $66m appeared first on MassDevice.

from MassDevice http://ift.tt/2cwnUzK