Implandata Ophthalmic Products (IOP), a specialist in diagnostic systems for monitoring chronic eye diseases, has completed a second closing of its Series A round. German venture firms Peppermint Venture Partners and Enjoy Venture led the round and were joined by banking group KfW’s ERP Startfonds.
The financing will be used to run a CE trial to achieve early market access for its new diagnostic system, IOP said.
IOP has developed a new diagnostic system that can measure the intraocular pressure of an individual glaucoma patient. The system enables early diagnosis of the disease as well as monitoring the progression and therapy, thereby protecting patients against blindness.
Max Ostermeier, managing director of IOP said, “We are delighted that we have been able to attract more money for this A-Round than originally planned. The additional proceeds will allow us to expand our clinical studies in Europe, to start an IDE pilot study in the US and to advance our efforts with regard to a telemedical connectivity of our system for remote glaucoma patient management.”
Dr Klaus Stöckemann, member of the IOP Board and managing director at Peppermint VenturePartners, added, “We do see the medical need for such an innovative diagnostic device to improve the management of glaucoma patients and we are happy to work with the management of IOP and the other co-investors to achieve this goal”.
IOP had a first closing back in December 2011 with €1.4m led by Hannover eteiligungsfonds, the HighTech Gründerfonds (HTGF) and a group of private medtech investors..
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