US-based medical device company AcuFocus secured $65m in funding last Tuesday, consisting of $40m in equity and a $25m ‘synthetic royalty’ payment from private equity firm Cowen Healthcare Royalty Partners. Cowen led the round, investing a total of $30m.
Also participating in the round were medical technology company Medtronic, eye health company Bausch & Lomb, and venture capital (VC) firms Versant Ventures, the Carlyle Group and Accuitive Medical Ventures.
Prior to the latest round, AcuFocus had raised about $34.5m, with $18m of that coming from a series D round in 2007. Previous investors include Shroder Ventures, the VC division of asset management firm Shroders, as well as Pequot Ventures, which has since become VC firm FirstMark Capital, and Boston Innovative Optics.
Founded in 2001, AcuFocus’ lead product is the Kamra inlay, a treatment for nearsightedness which is available in markets across Europe and other parts of the world. AcuFocus us preparing to submit Kamra to the US Food and Drug Administration in 2012 for regulatory approval.