French ophthalmology company EyeTechCare has secured a third round of funding of €10m. Bernard Chauvin, a private investor, has taken an equity stake in the company alongside existing investors – Omnes Capital (formerly Crédit Agricole Private Equity – and Lyon-based insurer SHAM.
Since its last round of funding in 2010, EyeTechCare has completed the EyeMUST 1 trial, which tested its EyeOP1 device on around sixty glaucoma patients in nine centers in France.
The company said it plans to use the funds raised to complete its EyeMUST 2 international trial, with results due to be published in 2014. The company will also be able to fund the initial steps required by the FDA registration process. It plans to notify the FDA before the end of 2013 of its intention to bring the device to market.
“We’ve been excited by EyeTechCare’s market positioning right from the start. The arrival of this new investor will support the growth of the business,” said Alexia Perouse, co-head of venture capital activity at Omnes Capital. “The company’s prospects for development are very encouraging and the team in place has always been able to meet its self-imposed deadlines.”
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