NEWARK, Del., Jan. 19, 2021 /PRNewswire/ -- Ace Vision Group, Inc, (AVG) an emerging ophthalmic laser device company focused on bringing innovative touchless Eye Laser Therapy (ELT) to patients suffering from age related vision loss, announced today that it closed a Series A preferred stock round totaling $13.3M, which is $3.3M oversubscribed. The funds from this round will be used to continue development and commercialization of its innovative VisioLite® Ophthalmic Laser, a touchless therapeutic device being developed for the treatment of age-related vision dysfunction. The company is also currently in pre-clinical development of its proprietary procedure, Laser Scleral Microporation® (LSM), a minimally invasive rejuvenation procedure for the treatment of presbyopia, glaucoma and other eye diseases.
"This funding round validates Ace Vision Group's path forward to explore the potential of Laser Microporation technologies, a new frontier in eye therapy," said Dr. AnnMarie Hipsley, Founder and CEO. "Our focus is to provide a first-in-class novel therapeutic technology to address and potentially prevent numerous age-related dysfunctions of the eye, which lead to functional vision loss. We are excited to bring this therapeutic technology to patients suffering from presbyopia, which is a vast market with a large unmet need."
The funding was led by Robert Picerne of Picerne Group, LLC, an Orlando, Florida based enterprise, which provided a substantial portion of the round funding, as well as its venture capital affiliates and a strategic partner.
"The continued support of our primary investors is a strong vote of confidence," said Joseph Carroll, a member of the Ace Vision Group Board of Directors. "We continue to be impressed with the progress Ace Vision Group has made in developing a fully automated platform to treat age-related conditions in the eye, including presbyopia and glaucoma. The potential of this technology is remarkable and will have many applications for various eye diseases."
Young American Capital, LLC, a New York based investment capital advisory firm facilitated the Company's Series A round.
About Ace Vision Group
Ace Vision Group, Inc. (AVG) is a privately held Delaware corporation, established in 2006 to develop laser-based therapeutic technologies to heal age-related eye dysfunction and restore the eye's natural performance. AVG's Laser Scleral Microporation, or LSM, is the only therapeutic eye laser treatment that restores visual function naturally without involving vision correction, artificial implants or devices. Ace Vision Group's goal is to provide the field of ophthalmology with innovative devices, procedures and education for the treatment and delay of onset of age-related ocular dysfunction, disability and disease. For more information about Ace Vision Group please visit www.acevisiongroup.com.