i-Optics, the provider of eye diagnosis solutions, closes €13.7M financing round
i-Optics, a pioneer in the development of superior eye diagnostic solutions, announced today that it has closed a new financing round, securing EUR 13.7 million equity from existing and new investors. With this new injection of capital, i-Optics will accelerate the successful commercialization of Cassini, a superior diagnostic platform used in premium refractive-cataract surgery procedures. Jeroen Cammeraat, CEO of i-Optics comments “What makes Cassini unique is its unrivaled accuracy, allowing cataract surgeons to improve spectacle free surgical outcomes from current standards of care at 53% to over 83% success rate. Cassini’s ability to determine the true axis and magnitude of astigmatism (cylinder) changes cataract surgery from a “one-size-fits-all” procedure, to a personalized treatment where the optimal intraocular lens and surgical procedure is selected for each individual patient.” Within one year of launch, Cassini has been awarded as the “Best Technology of 2014” and recognized with the “Innovation Award of 2014”.
In addition, this investment allows the company to further support the rapid international market adoption of the EasyScan eye diagnosis solution through its global partnership with Japanese multinational HOYA. EasyScan has already become the number one selling retinal imaging product in the German market where it was introduced jointly with HOYA as a first market launch in 2014. Erik Valks, CEO of EasyScan comments on what drives the successful partnership with HOYA: “With EasyScan, we offer a first-time, fast and easy way for patients and consumers to check the health of their eyes with their optician. Within 3 minutes, EasyScan can conveniently perform a test in a local optical store. The EasyScan test can also be used for early diagnosis of retinal diseases which can be caused by the negative effects of extensive blue light, UV light, age related diseases such as macula degeneration and glaucoma, as well as screening for Diabetic Retinopathy. After the successful launch last year in Germany, EasyScan is now expanding into new territory including; US, France, Italy, UK and China.
All of the existing key investors at i-Optics, participated in this equity round including; VC funds Aescap Venture and HBM Partners, family fund De Hoge Dennen, NIBC Bank, as well as i-Optics management, showing the strong commitment and confidence of the team towards the success of the company. New investors the HealthCrest Group and IPF Partners, already a provider of growth debt financing to i-Optics, participated in this equity round of funding as well. Saola Healthcare Partners acted as financial advisor to i-Optics for this transaction.
i-Optics pioneers smart and superior eye diagnosis solutions that are affordable, fast and user-friendly for care providers worldwide to serve their patients best. Its innovations include:
– EasyScan – A breakthrough, zero-dilation retinal imaging system that uses SLO technology to diagnose retinal diseases including diabetic retinopathy, age-related macular degeneration (AMD) and glaucoma.
– Cassini – A first-of-its-kind Corneal Shape Analyzer based on Color LED Technology. Cassini measures the true axis and magnitude of corneal astigmatism and is essential for premium IOL planning. Cassini completes the premium cataract-refractive platform.
Source: i-Optics Press Release