Powervision Lens Brings Promise Of "Perfect Vision" Into Focus

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Two of the biggest problems of the aging eye — cataracts and presbyopia, a condition that makes it difficult to read things up close — are coming into focus for PowerVision Inc. The 50-employee Belmont company recently landed $20 million in a Series D financing backed by venture capital firm Venrock, the venture unit of Johnson & Johnson (NYSE: JNJ), Frazier Healthcare Ventures, medical device company Medtronic Inc. (NYSE: MDT) and others. It plans to raise another $10 million as part of the same round. PowerVision, formed eight years ago by Barry Cheskin and Matthew Frinzi, plans to use the cash to submit its flexible, implanted lens for European regulatory approval by the end of the year.

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