Healthcare Industry News: retinitis pigmentosa
News Release - December 14, 2006
Ophthonix Completes Series D Financing at $35.1 MillionFunding Supports the Continued US and International Roll-out of the Z-View Aberrometer and Wavefront-Guided iZon High Resolution Lenses
SAN DIEGO--(HSMN NewsFeed)--Ophthonix, a company marketing advanced vision correction products that provide consumers with superior optical clarity and crispness of vision, just announced it has raised $35.1 million in a "Series D" financing. Leading the funding round was DAG Ventures (www.dagventures.com), with Palo Alto Investors (www.pa-investors.com) also participating as a new investor in this round. Each of the company's current top tier investors joined-in the Series D funding: Enterprise Partners Venture Capital, Kleiner Perkins Caufield & Byers, Gund Investment Corporation, InterWest Partners, Trex Enterprises and Wasatch Advisors' Cross Creek Capital Fund. The "Series D" financing enables Ophthonix to continue the roll-out of the Z-View(TM) Aberrometer and iZon(TM) High Resolution Lens throughout the US and internationally.
"We are thrilled by the commitment of DAG Ventures to take the lead, along with Palo Alto Investors coming on board, both of whom are among the top in the industry, and by the continued support of previous investment partners for our technology," said President and CEO, Andreas Dreher, Ph.D. "All signs point to a huge success for the iZon Lens, which has been receiving outstanding market acceptance and this investment round is the final linchpin positioning us to drive the introduction of the iZon Lens across the US and globally," Dreher continued.
The iZon Lens design is based upon a patient's optical fingerprint, or iPrint(TM) measured by the company's Z-View Aberrometer. As a result, it addresses the unique aberrations of the eye that can cause sub-optimized vision if not corrected. "Patients tell us that the iZon Lens gives them the quality of vision they have never before experienced - sharpness of images, richer colors, better depth perception, reduced glare and seeing better at night," noted Dreher. "There is genuine excitement in these messages, because the iZon Lens is allowing them to see better than they ever could before," he concluded.
Ophthonix's newest lead investor echoed the enthusiasm of Dr. Dreher. "We knew immediately during our evaluation of Ophthonix that the company's technology had breakthrough potential and could change the lives of the hundreds of millions of people around the world who need vision correction," said John Cadeddu Partner at DAG. "Our firm was very excited to learn during our diligence period that practitioners prescribing the iZon Lens are extremely pleased at how well the product performs and the high levels of satisfaction their patients describe," he emphasized. One of the practitioners using the company's products, Peter Shaw-McMinn, OD of Riverside, CA noted, "The iZon Lens is a remarkable product and gives optometry an innovation that will transform the industry." "My patients love iZon Lens and so do I," he added.
Ophthonix, Inc., a San Diego-based, venture-funded ophthalmic company, is developing exceptional vision assessment and correction technologies to greatly enhance vision. Ophthonix is currently advancing a system that will improve the ability of optometrists and ophthalmologists to care for their patients and benefit the millions around the world requiring vision correction. Ophthonix is located at 10455 Pacific Center Court, San Diego, CA 92121, www.izonlens.com, firstname.lastname@example.org (858) 869-2086.
About Enterprise Partners
Enterprise Partners is a venture capital firm investing in privately held early stage and emerging companies with particular strengths in information technology, communications, life sciences and selected consumer products and services. One of the top-performing venture capital firms in the United States with over a $1 billion of capital under active management, Enterprise Partners is headquartered in La Jolla, CA, phone (858) 731-0300, website: www.epvc.com.
About DAG Ventures
Doug Ackerman & Goodrich (DAG) Ventures is a leading diversified capital firm with a portfolio of companies in life sciences, information technologies and energy technologies, including Plaxo, Blue Lane, Matrix Memory and Podshow. DAG Ventures is located at 251 Lytton Ave., Ste. 200, Palo Alto, CA 94301, phone: (415) 788-2755, website: www.dagventures.com.
About Palo Alto Investors
Palo Alto Investors is a leading diversified investment firm with over $1 billion invested in companies competing in health care, consumer products, telecommunications, financial services and energy technology. Palo Alto Investors is located at located at 470 University Ave., Palo Alto, CA 94301, phone: (650) 325-0772, website: www.pa-investors.com.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers is a leading venture capital partnership headquartered in Menlo Park, CA. The firm has backed many industry-leading companies including AOL, Google, Compaq, Genentech, Hybritech, and Netscape. Kleiner Perkins Caufield & Byers, is located at 2750 Sand Hill Road, Menlo Park, CA 94025, phone: (650)233.2750, website: www.kpcb.com.
About Gund Investment Corporation
Gund Investment Corporation is the private investment firm of Gordon Gund. The firm invests in privately held companies as well as public securities and real estate. A prominent philanthropist, Mr. Gund is co-founder of The Foundation Fighting Blindness, a non for profit organization driving research to find causes, treatments and cures for retinitis pigmentosa, macular degeneration, Usher Syndrome, and other retinal degenerative diseases. Gund Investment Corporation is located at 14 Nassau Street, Princeton, NJ 08542, phone (609) 921-3633.
About InterWest Partners
InterWest Partners (www.interwest.com), founded in 1979, is a leading diversified venture capital firm focused on building long-term relationships with entrepreneurs and portfolio companies. With more than $2 billion of capital raised, including its new investment fund of $600 million, InterWest has 11 experienced partners in Menlo Park, CA and Dallas, TX, who bring together deep domain knowledge in life sciences and information technology.
About Trex Enterprises
Established in 1978, Trex Enterprises is a privately owned, high-tech company specializing in government and commercial R&D in the field of applied physics, as well as supporting the launch of new ventures. Among its other ventures are Cross-Fiber, Inc., Lorea Corporation and e-Phocus, Inc. Trex Enterprises is located at 10455 Pacific Center Court, San Diego, CA 92121, phone: (858) 646-5300, website: www.trexenterprises.com.
About Wasatch Advisors
Wasatch Advisors, investment adviser to institutional clients and a family of mutual funds, has specialized in small cap growth investing since 1975. Wasatch Advisors is located at 150 Social Hall Avenue, 4th Floor, Salt Lake City, UT 84111, phone (801) 533-0777, website: www.wasatchadvisors.com.
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