LumiThera Closes 2nd Tranche of Series C Financing
SEATTLE, Jan. 13, 2020 /PRNewswire/ -- LumiThera Inc., a commercial stage medical device company delivering photobiomodulation (PBM) treatment for ocular disorders and diseases, today announced it has closed the 2nd tranche of its Series C round of financing. The proceeds of the financing are being used to support further clinical testing and commercialization of its Valeda® Light Delivery System for the treatment of dry Age-related Macular Degeneration (AMD).
"We are pleased with the investor interest in the company and have raised over $10M in the current C round," stated Clark Tedford, Ph.D., President and CEO. "The capital raised will allow us to execute on our European and US multi-center clinical trials."
WaterStar Capital, an Atlanta, Georgia based venture capital fund, led the round. "WaterStar is very excited at the progress of LumiThera in 2019 and looks forward to helping in the global commercialization of the PBM technology for ocular disease," stated Yigang Yang, WaterStar's co-founder and managing partner.
LumiThera and Optos announced a distribution agreement in 4Q of 2018 to sell the Valeda in 12 countries in Europe. Optos, a division of Nikon Corporation, has the only ultra-widefield retinal imaging company for eye care. Nikon participated in the current C round as a LumiThera investor.
The company is currently conducting prospective, randomized, double masked, clinical trials in dry AMD subjects. The company's LIGHTSITE II study is a European multi-center post-marketing study, and its LIGHTSITE III study is an FDA-approved IDE, multi-center study in the U.S. utilizing the LumiThera Valeda system.
Visit the Company's website at www.lumithera.com.
About LumiThera Inc.
LumiThera is a commercial-stage medical device company focused on treating people affected by ocular disorders and diseases including dry AMD, a leading cause of blindness in adults over 65. The company is a leader in the use of PBM for treatment of acute and chronic ocular diseases and disorders. The company is developing the office based Valeda Light Delivery System to be used by eye care specialists for medical treatment.
The Valeda Light Delivery System has been granted authorization to use the CE Mark by an EU Notified Body as required for commercial use in the European Economic Area only. Valeda is not approved for use by the Food & Drug Administration (FDA) in the USA.
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SOURCE LumiThera Inc.