Atia Vision, A Shifamed Portfolio Company, Closes $10M In Series C Financing

CAMPBELL, Calif., Dec. 10, 2018 /PRNewswire/ -- Atia Vision, Inc., a Shifamed portfolio company committed to improving patient outcomes through the development of a modular accommodating intraocular lens, announced today the closing of its second tranche of a Series C preferred stock financing, raising a total of $10M. Atia Vision's unique technology enables natural accommodation, utilizing the ciliary muscles of the eye and providing for subsequent refractive correction, to restore the full range of functional vision for cataract patients. Led by The Capital Partnership (TCP), with participation from Medvance Incubator Partners and Cormorant Healthcare Fund, the financing officially closed on November 9, 2018. The funds raised in this round will support Atia Vision's clinical efforts.

"We are pleased with the company's progress and the strong, continued support from our investors," stated Mariam Maghribi, President and CEO of Atia Vision. "This financing round enables us to move Atia's novel technology into clinical trials and demonstrate its impact on patients suffering from visual impairment."

Nearly 67 million people worldwide are visually impaired due to cataracts.¹ If left untreated, lens clouding from cataracts can lead to blindness. Atia Vision's innovation offers the promise of a solution that addresses the unmet and changing needs of cataract patients, with potential to expand into the presbyopia market.  

"We are excited to invest in Atia and believe its proprietary technology represents a truly innovative solution to a difficult clinical problem in the ophthalmology space," stated Casey Gordon, Head of Private Investments at TCP. "With its novel design, we believe the company is well positioned to overcome the traditional challenges in the intraocular lens space."

About Atia Vision, Inc.

Atia Vision is a privately held medical device company formed by Shifamed LLC, a Silicon Valley based medical device incubator.

About Shifamed LLC

Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a privately held medical technology incubator focused on developing new medical products from concept to commercial release. To learn more about Shifamed, please visit www.shifamed.com.

MEDIA CONTACT:
Katie Arnold
SPRIG Consulting LLC
+1 (408) 805-0520
[email protected]

¹World Health Organization, Visual Impairment and Blindness October 2017.

SOURCE Atia Vision, Inc.