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WaveTec Vision Secures Additional $11 Million in Financing to Continue Commercialization of the ORA System(R) for Cataract Surgery

Jun 24 2013 12:00AM

Marketwire

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ALISO VIEJO, CA -- (Marketwired) -- 06/24/13 -- Cataract surgery device maker WaveTec Vision announced today it has raised $11 million in an expansion of its D2 round of financing. The raise signifies continued and robust investor confidence in the company's market leading cataract surgery technology. The ORA System enables surgeons to measure the eye and refine outcomes during the procedure, rather than having to 'wait and see' as with traditional cataract surgery.

All existing investors participated in the new round, with the addition of new lead investor Foresite Capital Management of San Francisco. In addition to fueling continued commercialization, the new round will support the upcoming launch of VerifEye™, a new monitoring system that integrates with the ORA System to provide ophthalmic surgeons continuous refractive information for more refined visual outcomes.

"With its promising clinical results and rapid uptake by leading physicians, we believe the next-generation VerifEye will create a great deal of excitement in the marketplace and we're pleased to support the continued success of WaveTec," said Jim Tananbaum, CEO and managing director of Foresite Capital.

WaveTec Vision is currently tracking to exceed 80,000 ORA-Guided cataract surgeries this year. This represents over two percent of all U.S. cataract procedures, after only 18 months of ORA System commercialization.

"This is an exciting time to be in ophthalmology," said Tom Frinzi, CEO and president of WaveTec Vision. "Innovation is being rewarded and this infusion of new capital allows us to continue our journey toward improving the refractive outcomes of cataract surgery."

About WaveTec Vision
A privately held company, WaveTec Vision is the leader in intraoperative wavefront measurement technology for refractive cataract surgeons, providing on-demand information that enables the best possible vision for patients. Based in Aliso Viejo, Calif., its proprietary ORA System is a revolutionary diagnostic device that takes intraoperative wavefront aberrometry to a new level of performance. For demanding patients and the skilled surgeons who serve them, the ORA System delivers optimal cataract surgery results. For more information visit www.wavetecvision.com.



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Source: Marketwire


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