Allotex Announces New Investor and Expansion of Production Facilities
BOSTON and MILAN, Nov. 30, 2023 /PRNewswire/ -- Allotex Inc. and SpA, a leading biologics and device company specializing in vision correction therapies, is pleased to announce that Junson Capital has joined its investor syndicate. This additional capital will help support the expansion of the Company's production facility in preparation for market introduction and US clinical trials.
Allotex's innovative approach uses laser-shaped human corneal allografts to reshape the cornea for the treatment of presbyopia, restoring lost reading vision which is caused by the natural aging process. With hundreds of millions of individuals worldwide seeking a safe, effective, and long-lasting alternative to spectacles and contact lenses for reading, the company is poised to make a major impact in the vison care marketplace.
Dr. David Muller, Founder and CEO of Allotex, commented on the company's progress, saying, "This financing will allow Allotex to introduce our groundbreaking technology in Europe and Japan in early 2024 while actively working with the FDA to initiate clinical trials in the United States as soon as possible. The additional capital will help support the necessary expansion of our production facilities to increase capacity and ensure a steady supply of products."
John White, Allotex Board member representing KCK MedTech commented, "Our published safety and efficacy results, along with our 4-year follow-up, will boost market acceptance for both patients and refractive surgeons. Surgeons have had confidence in using human corneal allografts for over 70 years and are excited about the potential for our technology to restore reading vision to the millions of people who have age related presbyopia."
Junson Capital has joined the existing investors including KCK MedTech, Panakes, Supernova Invest, and Exor Ventures to complete the Series B financing. Wei Shen, representing Junson Capital, shared their enthusiasm for joining the investor syndicate, stating, "We are excited to partner with Allotex and contribute to the advancement of their groundbreaking therapies. The potential to make a significant impact on the global vision-correction market is evident, and we look forward to being a part of this transformative journey." Junson Capital is a global investment manager with a long dedication to disruptive technology and healthcare leaders and investments across venture capital, private equity, public markets, real estate and alternatives. Allotex was advised by Cukierman & Co. Life Sciences for this transaction.
About Allotex Inc.
Allotex Inc. is a pioneering biologics and device company focused on developing innovative therapeutic solutions for vision correction. By utilizing precisely shaped human corneal allografts, Allotex creates a natural, removable inlay, offering patients a safe, permanent vision correction option. With a commitment to advancing vision correction, Allotex is dedicated to improving the lives of individuals affected by presbyopia and other refractive disorders of the human eye.
For more information on Allotex please visit www.allotex.com or contact Travis Henry ([email protected]).
Logo - https://mma.prnewswire.com/media/2289846/Allotex_Logo.jpg
Share this article