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Visual Prosthetics Co VisionCare Ophthalmic Technologies Raises $20 Million


2/6/2012 8:35:06 AM

VisionCare has developed the Implantable Miniature Telescope for the treatment of end-stage age-related macular degeneration. Visual prosthetics company VisionCare Ophthalmic Technologies Inc. has raised an additional $4 million in its fifth financing round led by Danny Naveh's Agate Medical Investments LP, bringing the round to a total of $20 million. Current investors include Giza Venture Capital, Pitango Venture Capital, Onset Ventures, Three Arch Partners, Generali/BSI, and Saints Capital. VisionCare has developed the Implantable Miniature Telescope for the treatment of end-stage age-related macular degeneration (AMD). The product was designed by Dr. Isaac Lipshitz. It obtained US Food and Drug Administration (FDA) approval for the device in 2010, and received an insurance indemnification code from Medicare a few months ago.

Read at Globes Online

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