US-based medical device manufacturer PowerVision closed its $30m series D round on Monday after venture capital firms Aisling Capital, Correlation Venture Partners and Venrock added $10m to a first tranche raised earlier this year.
PowerVision secured $20m in January from Johnson & Johnson Development Corporation, the corporate venturing arm of pharmaceutical company Johnson & Johnson, medical device producer Medtronic and Venrock, as well as VC firms Advanced Technology Ventures, Lexington Capital and Frazier Healthcare Ventures.
Founded in 2002, PowerVision is developing an intraocular lens that can restore sight to elderly patients with presbyopia or cataracts. It has raised about $93m since then from backers also including Panorama Capital.
The company will invest the funding in an ongoing study of its FluidVision intraocular lens, in which it aims to enrol patients by the end of 2014, with the study to be implemented in 2015.