Visiogen, Inc. Signs Significant Financing Agreement.Company Raises $24 Million, Further Supporting its Mission and the Validity of the Synchrony synchrony /syn·chro·ny/ (-krah-ne) the occurrence of two events simultaneously or with a fixed time interval between them. atrioventricular (AV) synchrony [R] Dual Optic Accommodating Intraocular Lens Intraocular lens Lens made of silicone or plastic placed within the eye; can be corrective. Mentioned in: Cataract Surgery IRVINE, Calif. -- Visiogen, Inc. of Irvine, California Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28 1971, the 69.7 square mile (180.5 km²) city has a population of 202,079 (as of 2007). , announced it has raised $24 million from new and current investors in support of the Synchrony[R] dual optic accommodating intraocular lens. Lead investor CMEA CMEA Council for Mutual Economic Assistance CMEA Cellular Message Encryption Algorithm CMEA Canadian Music Educators' Association CMEA Council for Mutual Economic Aid CMEA Certified Machinery Equipment Appraiser CMEA Colorado Music Education Association Ventures, along with Foundation Medical Partners, made major contributions to this round of financing, which was also strongly supported by current investors Three Arch Partners, New Leaf Venture Partners and Prospect Venture Partners. Since the last round of financing in 2003, Visiogen has consistently met all the company's timelines, received the CE Mark, and advanced into Phase III clinical trials across the United States in late 2006. "Based on the excitement generated from our ongoing clinical trials, we believe that investors see Synchrony as the next-generation product in the intraocular lens market," said Reza Zadno, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Visiogen, Inc. "We are excited by the potential of Visiogen's Synchrony lens to revolutionize the field of intraocular lens replacement based on the clinical results to date. We think the ophthalmology industry's reimbursement dynamics, the company's management team, and the existing investors all position this company for success," said Visiogen board member and CMEA Ventures Senior Partner Rodney D. Altman, M.D. The team at Foundation Medical Partners reflected this sentiment as well. "We at Foundation Medical Partners believe that Visiogen's outstanding management team has developed a game-changing technology to address an important unmet clinical need in ophthalmology. We are very excited about the enormous potential for Visiogen to revolutionize the intraocular lens implant market," said Andrew Firlik, M.D., General Partner, Foundation Medical Partners and Visiogen board member. The proprietary Synchrony system, intended for use in cataract and refractive refractive capacity to refract light. refractive error a difference between the focal length of the cornea and lens, and the length of the eye, resulting in myopia or hyperopia. patients, incorporates a dual optic lens with an easy-to-use pre-loaded injector. The entire system is self-contained and ready for use without the need for lens handling. The dual optic lens can be inserted through a 3.6 - 3.8 mm clear-corneal incision. The single-piece silicone lens unfolds in the eye upon insertion and features two optics connected by a spring system. The springs connect a 5.5-mm high power anterior optic and a 6-mm negative power posterior optic; the spring action moves the front optic and changes the eye's focus from near to far. This unique combination of positive- and negative-powered optics is customized for each patient. To date, the Synchrony lens has been implanted in over 400 patients worldwide. The company announced that it had received the European CE Mark for the Synchrony[R] Dual Optic Accommodating IOL in June of 2006, which allows expansion into post-marketing research studies within Europe to further build the scientific foundation for Synchrony. About CMEA Ventures CMEA Ventures is a $771 million venture capital firm focused on life sciences, high technology, and energy & materials investments. CMEA believes that the most successful venture backed companies are science focused with experienced teams intent on winning. As a result, CMEA's portfolio companies typically have cutting edge and highly differentiated technology at their core, with founding teams of the highest caliber. Examples include CMEA Ventures early stage investments in many leading Silicon Valley companies, such as Maxygen (MAXY), Monogram monogram [Gr.,=single letter], symbol of a name or names, consisting typically of a letter or several letters worked together. A famous monogram is that of Christ, consisting of X (chi) and P (rho), the first two letters of Christ in Greek. Biosciences (MGRM MGRM Malta Gay Rights Movement (Malta) ), Symyx (SMMX), and Syrrx (purchased by Takeda). About Foundation Medical Partners Foundation Medical Partners is a national venture capital investment firm formed in 2001 with the vision of bringing cutting edge clinical expertise to healthcare investments. Foundation specializes in early stage investments in the medical device, biopharmaceutical, and predictive medicine technology sectors. The firm actively manages over $150 million in venture capital, with a current market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of its healthcare investments totaling over $2 billion. Foundation was an early venture investor in now-public companies AtriCure (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATRC ATRC Adaptive Technology Resource Centre (Canada) ATRC Assistive Technology Resource Center ATRC Aegis Training and Readiness Center ATRC Advanced Television Research Consortium ATRC Alien Terrorist Removal Court ATRC Against the Rest Crew ), Combinatorx (NASDAQ:CRXX), Immunicon (NASDAQ:IMMC IMMC Illinois Masonic Medical Center IMMC Integrated Materiel Management Center IMMC Intelligence Materiel Management Center IMMC Interdigestive Migrating Motor Complex IMMC International Meeting on Mine Clearance (UN) ), and Northstar Neuroscience (NASDAQ:NSTR NSTR Nothing Significant To Report NSTR Naval Sea System Command Technical Representative ), as well as a portfolio of other privately held firms, such as BioNeuronics, BridgePoint Medical, CoApt Systems, CardioNet, CardioMEMS, EndoGastric Solutions, Marinus Pharmaceuticals, and SpineWave. About Visiogen Visiogen, Inc. is focused on developing innovative products for cataract and refractive patients. Founded in Irvine, California, in 2001, Visiogen's first commercial application, Synchrony[R], a dual optic accommodating intraocular lens and pre-loaded injector, is currently in clinical studies in the U.S. and recently received the CE Mark in Europe. |
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