MISSION VIEJO, Calif. (PRWEB) January 07, 2021
SpyGlass Ophthalmics (“SpyGlass”), a privately-held ophthalmic therapeutics company announced today that it has secured $27.5 million in Series B financing. The financing, which was led by Vensana Capital alongside existing investor New Enterprise Associates (“NEA”), will enable the company to further advance development efforts of platform technology that has the potential to address several unmet needs across a range of chronic ophthalmic diseases.
“Combining the strengths of NEA and Vensana will allow us to further accelerate our efforts from the R&D phase towards clinical studies in areas that are currently underserved in the global ophthalmic market.” said Glenn Sussman, CEO and Co-Founder of SpyGlass Ophthalmics. “We believe our approach represents a paradigm shift in the treatment of eye diseases with significant advantages compared to currently commercialized therapies”, said Dr. Malik Y. Kahook, MD who is Co-Founder and President of SpyGlass Ophthalmics. NEA General Partner Dr. Ali Behbahani stated, "We are extremely impressed with the progress SpyGlass Ophthalmics has achieved since it was spun out of the University of Colorado. We believe our technology represents an innovative advancement in how clinicians can treat chronic ophthalmic diseases and look forward to our continued partnership with the company." NEA Principal Dr. Tak Cheung, formerly a board observer, will now be joining the SpyGlass board. Vensana Managing Partner Kirk Nielsen and Principal Cynthia Yee joined the SpyGlass board upon the close of the financing and added, “We’re excited to partner with the experienced SpyGlass team to develop products that provide better outcomes for patients and reduce the burden and cost of chronic ophthalmic disease management.”
ABOUT SPYGLASS OPHTHALMICS
SpyGlass Ophthalmics was Co-founded by Dr. Malik Y. Kahook, MD and Glenn Sussman. The company is focused on the development of novel treatments for chronic ophthalmic diseases. The technology was originally developed in the Sue Anschutz-Rodgers Eye Center of the University of Colorado School of Medicine and spun off campus post Series A funding from New Enterprise Associates. http://www.spyglassophthalmics.com
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm’s first fund closed in 1978, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 acquisitions. http://www.nea.com.
ABOUT VENSANA CAPITAL
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana is actively investing in late development and commercial stage companies across the medtech sector, including medical devices, diagnostics, drug delivery, digital health, and tech-enabled services. Vensana’s investment team has a history of successfully partnering with management teams behind industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, and Vertiflex. Learn more at http://www.vensanacap.com.