EyeYon Medical is a medtech startup which develops and markets medical ophthalmic devices. It says that its devices offer relief to the unmet clinical needs of millions of patients. The company just raised $25 million in a Series C funding, led by a global strategic leader in the ophthalmic industry and CR-CP Life Science Fund.
EyeYon Medical was founded in 2011 by Dr. Ofer Daphna, CEO Nahum Ferera MD, and Dr. Arie Marcovich, MD., and develops advanced technology to treat acute problems in the ophthalmic world. The latest round brings the total amount of capital raised by the company to $36 millionץ
The company boasts that it has created the market’s first ocular drug depot platform in the form of a non-invasive, comfortable, simple to use contact lens. The unique design of its Hyper-CL Therapeutic Soft Contact Lens increases contact time and bioavailability of topical drops on the cornea. The lens’ special design enables capturing and maintaining any drop applied on its surface and may facilitate faster and better cornea healing. The advanced design of the lens was found to be clinically beneficial in the treatment of corneal edema and for a variety of indications that are being clinically tested.
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The company is just one of many Israeli medtech startups. Startup Nation is legendary not only for its cutting edge software and cyber security work, but also for its ground breaking innovations in new medical treatments and Star Trek level technology. Israel’s Oramed Pharmaceuticals Inc. (Nasdaq/TASE: ORMP), is developing proprietary technology for the oral delivery of drugs presently administered by way of injection. Embryonics, an Israeli startup, is developing and applying solutions which utilize artificial intelligence to improve the success rates of fertility treatments. Israeli medtech startup Ibex Medical Analytics uses artificial intelligence (AI) in cancer diagnosis.
And EyeOn Medical is not alone in the area of bringing eyesight to the blind. Israeli startup ForSight Robotics is developing a surgical robotic platform to deliver what it describes as high precision and cost-effective vision-saving surgery. And CorNeat Vision, an Israeli startup that develops biomimetic implant technology, recently successfully restored the vision of a 78-year-old man who had been blind for 10 years.
EyeYon’s future product is an Artificial Endothelial Layer – EndoArt, a polymer film implant, which is attached to the posterior corneal surface, to treat corneal edema secondary to endothelial dysfunction. The company explains that a non-functioning endothelium results in excess fluid flowing into the cornea, leading to corneal edema with severe vision loss. EndoArt is a synthetic barrier to the excess fluid, designed to treat the corneal edema.
“The overwhelming interest in joining our latest funding round reflects the confidence investors have in our unique and disruptive technology and its tremendous ability to address the clinical challenges and the huge market opportunity in the growing corneal implants market,” said Nahum Ferera, Co-Founder and CEO of EyeYon Medical.
“Together with our team of clinical and medical device experts, we have developed a novel solution which has already shown groundbreaking results and safety in human trials. The latest investments position EyeYon Medical as a global pioneer in the ophthalmology space and in corneal care.”