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WaveTec Vision Closes Series D Financing, Raises $15.9 Million for Wavefront-Guided Custom Cataract(TM) Technology


5/13/2011 6:29:09 AM

ALISO VIEJO, Calif.--(BUSINESS WIRE)-- WaveTec Vision™, the leader in wavefront-guided Custom Cataract™ technology, announced today that it has closed its Series D financing, securing $15.9 million from existing and new investors.

The ORange® intraoperative wavefront aberrometer is a patented diagnostic breakthrough that allows cataract surgeons – for the first time – to measure refraction during surgery, so they can precisely predict and customize how their patients will see following the procedure. ORange Custom Cataract surgery provides on-demand measurements so cataract surgeons can make adjustments on the table, to help ensure their patients achieve the refractive outcome they expect.

“Thanks to the vote of confidence from the investor community, this infusion of capital will allow us to expand commercialization and adoption of ORange, grow our infrastructure and further demonstrate clinical efficacy as we bring Custom Cataract technology to many more surgeons and their patients,” said Tom Frinzi, WaveTec CEO.

WaveTec received strong support from the ophthalmic community at the recent American Society of Cataract and Refractive Surgery Symposium, with clinical data presentations showing the information provided by the ORange system to be better for determining IOL power in the post-refractive eye compared to other post-refractive formulas currently available.

The Series D financing was led by existing investor Versant Ventures, with participation from existing investors Accuitive Medical Ventures and De Novo Ventures. New investor Gund Investment Corporation also participated in the funding.

About WaveTec Vision

WaveTec Vision, a privately held company based in Aliso Viejo, CA, is the leader in wavefront-guided Custom Cataract™ technology. Their breakthrough system ORange® is the first product available for intraoperative wavefront aberrometry registered by the FDA. ORange will transform and advance the emerging convergence of refractive and cataract surgery. For more information on WaveTec and ORange, visit www.wavetecvision.com. This is not a solicitation to sell securities.



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