US-based medical device company MacuLogix has raised $38.7m in a series D round that included Roche Venture Fund, the corporate venturing unit for pharmaceutical firm Roche.
Healthcare investment firm Vivo Capital led the round, which included Fisk Ventures, Berwind Private Equity and Life Sciences Greenhouse of Central Pennsylvania, boosting the company’s total funding to $51m.
MacuLogix has developed a device called AdaptDx, a dark adaptometer that enables eye care professionals to diagnose and treat patients with age-related macular degeneration (AMD), an ocular condition that can commonly results in the loss of vision for people aged over 50.
The dark adaptometer function means AdaptDx can simulate night time conditions for testing, helping healthcare professionals to identify patients with AMD up to three years before it would otherwise be discovered clinically.
Proceeds from the round will be used to fund the sales and practice integration efforts for the system, both domestically and internationally.
Carole Nuechterlein, head of Roche Venture Fund, will join MacuLogix’s board of directors in connection with the round, as will Jack Nielsen and Nathan Du, respectively managing director and principal at Vivo.
MacuLogix had closed a $5m series C round in 2015 that was led by Fisk Ventures and backed by Roche Venture Fund, Life Sciences Greenhouse and Berwind Private Equity, the latter three having helped it raise a total of $7.3m through series A and series B rounds.
Horizon Technology Finance Corporation led a $10m loan facility for the company in July 2018, which included participation from Silicon Valley Bank.