US-based medical device company PowerVision has announced the completion of a $30m Series D financing round to fund development of its FluidVision accommodating intraocular lens.

In the Series D financing round, new investors Aisling Capital and Correlation Venture Partners, as well as existing investor, Venrock, added $10m to the $20m closing earlier 2014 from PowerVision’s existing investors.

PowerVision will use the proceeds of the funding to complete patient enrolment in the ongoing CE Mark study of the FluidVision accommodating intraocular lens.

"Current treatment methods fall short, and most patients must still rely on reading glasses or other corrective lenses to see both near and far."

Patient enrolment is expected to be completed by the end of this year, while receipt of the CE Mark approval and subsequent launch of the US pivotal study coming in 2015.

The company’s major investors now include Aisling Capital, Correlation Ventures, Advanced Technology Ventures, Frazier Healthcare, Venrock, Johnson & Johnson Development, and Medtronic.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

PowerVision has developed the FluidVision lens to permanently restore clear vision at all distances for patients affected by presbyopia or cataracts.

FluidVision lenses provide mimic the eye’s natural accommodative process to change shape and adjust focus the way that young, healthy eyes do.

PowerVision president, CEO and co-founder Barry Cheskin said: "Current treatment methods fall short, and most patients must still rely on reading glasses or other corrective lenses to see both near and far.

"The FluidVision lens would eliminate that need, and could provide a new option for millions of people with these conditions."