Atia Vision, a Shifamed portfolio company committed to improving patient outcomes through the development of a modular presbyopia-correcting intraocular lens (IOL), announced today the first close of a $42M Series E financing.
Led by Cormorant Asset Management, with participation by The Capital Partnership (TCP), PA MedTech VC Fund, AMED Ventures and Shifamed angel investors, funds will be used to expand the company's clinical program, scale its manufacturing capabilities, and expand the Atia Vision team.
"We are thrilled to lead this round and are encouraged by the promising early clinical experience with Atia's innovative modular design," said Bihua Chen, Founder and CEO of Cormorant Asset Management. "We look forward to the impact this technology will offer patients suffering from cataracts and presbyopia, two of the largest segments of the ophthalmology market."
Atia Vision's modular intraocular lens technology aims to address the limitations of current solutions. Implanted using conventional cataract techniques, the innovation features a shape-changing, fluid-filled base and is designed to have an exchangeable fixed power front optic, allowing physicians to select the appropriate lens to meet each patient's target refraction. The dual lens system is responsive to the natural accommodative mechanism and aims to provide dynamic power response for clear vision from far to near.
"We are extremely pleased to close this round of financing with strong, continued support from our investors," said Mariam Maghribi, President and CEO of Atia Vision. "We continue to execute on our clinical milestones and look forward to expanding our top-notch team."