EYE TECH CARE Secures $25 Million and a Partnership with EVERPINE Capital

Funds will be used to strengthen the company’s business development in Europe and to pursue market access in China

LYON, France--(BUSINESS WIRE)--EYE TECH CARE SA, a French company developing and marketing equipment for non-invasive glaucoma treatment in ophthalmology, today announced that it has secured a new round of funding with a Chinese investor. EVERPINE Capital will invest in two rounds for a total amount of around 25 million euros and will support EYE TECH CARE in its international expansion. The company will benefit from EVERPINE Capital’s presence in China in order to further continue product registration begun in 2015.

China represents a key market for EYE TECH CARE : 22 million people suffer from glaucoma in the country, representing 28% of people affected by the pathology worldwide (MarketScope 2014). However, due to the relatively low quality level of care, only about 6% of the Chinese patients are treated. Many of these people suffer from advanced glaucoma, often requiring the use of a complex therapeutic armamentarium. In this context, the non-invasive treatment developed by EYE TECH CARE represents an alternative solution perfectly adapted to the needs of the Chinese market.

EyeOP1®, the innovative medical device developed by the French company offers a simple to use and non-invasive solution for treating glaucoma using ultrasound. The UCP procedure (Ultrasound Ciliary Plasty) is the only medical procedure developed for uncontrolled glaucoma irrespective of previous treatment.

« We are delighted to welcome EVERPINE as a financial and strategic shareholder » said Dietrich Wolf, CEO of EYE TECH CARE. « This funding is an important milestone for us in two aspects: In addition to allowing us to strengthen our commercial expansion in European markets based on the new product generation that we launched in 2015, I am pleased to see our strategic priority on accessing the Chinese market confirmed by EVERPINE’s strong commitment. »

« We were particularly impressed by the EYE CARE TECH team and their medical device which presents an innovative solution for the treatment of glaucoma and could represent a disruptive technological breakthrough in the treatment of this pathology in China. This new technology perfectly meets the needs of our market. We believe it will quickly find its place among Chinese practitioners and will constitute an important change in the treatment of this pathology» said Tao Wu, EVERPINE Managing Partner. « In China, EVERPINE Capital has received very positive comments on the efficacy of the device from M. Ge Jian, Director of the Zhongshan Ophthalmic Center, from M. Sun Xinghuai, Director of the Ophthalmology department at the Shanghai EENT Hospital, as well as other key Chinese experts in the ophthalmology domain. »

About EYE TECH CARE

EYE TECH CARE SA develops and markets non-invasive therapeutic medical devices for ophthalmology. EyeOP1® is the company's first commercial medical device for the treatment of glaucoma, a degenerative disease of the optic nerve associated with raised intraocular pressure (IOP), which mainly affects people aged over 45. Glaucoma and ocular hypertension affect some 120 million people around the world, but are diagnosed in only about 30% of cases. EYE TECH CARE seeks to respond to the needs of this fast-growing market by offering an innovative non-surgical therapy which is extremely simple to use. The company is based in Lyon, France.

For more information : http://www.eyetechcare.com

About EVERPINE Capital

EVERPINE Capital has a focus on cross-border business with growth enhancement through China entry or market development. EVERPINE invests in areas that benefit most from China’s socioeconomic development such as MedTech, industrial technology, and education. EVERPINE maintains a strong network with strategic partners who are the most successful market leaders in their respective industries in China. The company’s main office is located in Shanghai.

For more information : http://everpinecapital.com/