Intraocular Lens Startup Focuses On R&D With USD12.7 Million Funding
(Yicai Global) April 27 -- Wuxi Vision Pro Ltd., a startup focused on intraocular lenses (IOLs), implants used for cataract and myopia surgery, will use new funds totaling CNY80 million to advance its research and development efforts.
The firm, based in China’s eastern Jiangsu province, aims to develop higher quality IOLs suitable for medical needs following the B-series round led by previous investment Qiming Venture Partners, it said in an announcement. Shanghai Ruijian Capital Management Co. also participated.
China has the largest population of cataract patients with up to 130 million potential cataract patients over the age of 60. At present, the number of cataract surgeries is increasing at a rate of 20 percent per year. Only imports can meet the huge needs of IOLs in the past.
Wuxi Vision Pro has successfully researched and developed hydrophobic polyacrylic products with a high index of refraction and several series of IOLs. After acquiring CE Certification from the EU in 2016, its aspheric IOL brand Leiming also gained approvals from China Food and Drug Administration (CFDA) las June to officially enter the market.
The firm also operates a plant in California for the production of hydrophobic polyacrylic, the most ideal and widely used material in the manufacture of a middle and high-end IOLs.
Editor: William Clegg
FINANCING, Artificial Lens，Polymer, Cataract Surgery, Wuxi Vision Pro