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Burrill & Co leads $16.5m financing in cataract surgery company WaveTec

10 Apr 2012

Burrill & Company has led a $16.5m financing round into precision cataract surgery tech developer WaveTec Vision.

Previous investors Versant Ventures, Accuitive Medical Ventures, De Novo Ventures and Gund Investment also took part in the funding round.

WaveTec said it plans to expand commercially using the new investment as well as continuing to refine its product.

CEO and president Tom Frinzi said, “The participation of a new lead investor further validates the scientific and clinical potential of the ORA System.

“We’re confident of our leadership in this space and of our ability to help surgeons provide superior refractive cataract outcomes.”

New investor Burrill generally targets life sciences companies whose technologies it believes can be applied across a wide range of sub-sectors.

Most of its investments are across the start-up to mezzanine stage, with most financing aimed at Series A and Series B rounds.

The San Francisco-based firm, which also handles private equity, merchant banking and media, hired Joao Paulo V Poiares Baptista as managing director in 2009.

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