Adaptilens closes Series A financing round of $17.5 million to help drive development of the company's Accommodating Intraocular Lens

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Adaptilens has announced the closing of a Series A financing round of $17.5 million to help drive the development of the company's Accommodating Intraocular Lens (A-IOL).

The financing is led by Perceptive Xontogeny Venture Funds (PXV Funds), with additional investments from Pillar VC, 380 Cap, and Accanto Partners. This Series A financing follows an earlier seed round of $1.6 million led by Pillar VC with participation from Accanto Partners and additional awards from the Harvard President's Innovation Challenge and the Massachusetts Life Sciences Center Initiative for Women Entrepreneurs.¹

"We're compelled by Adaptilens's innovative and elegant technology, which lies in their novel A-IOL design and proprietary polymer materials," said Gianna Hoffman-Luca, PhD, senior principal, venture at Perceptive Advisors and Partner at Xontogenyin a press release from Adaptilens. "Equally inspiring is the Adaptilens team of experts' unwavering dedication to developing the best-in-class A-IOL, a game-changing solution for the burgeoning millions of people needing cataract surgery. We're excited for Adaptilens to join our portfolio of companies and to support them in their next phase of growth from pre-clinical to clinical."

The A-IOL from Adaptilens is described by the company as a lens that “imitates the human lens so that patients will have near, intermediate, and distance vision without eyeglasses or contact lenses.” It aims to correct both near and distance eyesight, reduce reliance on glasses or contact lenses, have no glare or halos, and restore the eye’s ability to focus.²

“The young, healthy, human eye is perfectly designed, and its soft, flexible lens is what allows the eye to change power for a full range of vision. Our goal is to provide the growing number of people who need cataract surgery with a biomimetic option that restores youthful vision. This funding is meaningful as it enables our exceptional team to accelerate the development of our best-in-class A-IOL,” commented Liane Clamen, MD, Adaptilens founder and CEO in the press release.

References:

1. Adaptilens Announces $17.5M Series A Financing. Press release; April 29, 2024. Accessed April 30, 2024. https://adaptilens.com/adaptilens-announces-17-5m-series-a-financing/

2. About Adaptilens. Adaptilens. Accessed April 30, 2024. https://adaptilens.com/about/