CorneaGen has closed $37 million in Series B financing, according to a press release.
Flying L Partners led the financing round in collaboration with Falcon Vision, with participation from Petrichor Healthcare Capital Management.
The proceeds will be used to expand the company’s market share and acquire and develop corneal care products, services and technologies.
CorneaGen is currently working on Cornea Cell Therapy, which involves culturing human eye endothelial cells and injecting them into the anterior chamber of a corneal blind eye, the release said. The cells have been shown to restore sight within a month.
“We are moving forward with creating a subsidiary in Japan to drive obtaining regulatory approval to manufacture and commercialize the treatment,” Monty Montoya, CEO of CorneaGen, said in the release. “A single donated human cornea yields sight-restoring Cornea Cell Therapy treatments for 100 or more patients, so this will be a game-changer for corneal blind people around the world, especially in areas where access to donor tissue is restricted.”