The funds will be used to further develop the company’s Calibreye System that aims to optimize reduction of intraocular pressure (IOP) for patients with moderate to advanced glaucoma.
Myra Vision, a privately held portfolio company of Shifamed, has announced the closing of its $25 million Series B financing.
According to a press release from the company,1 the financing was led by Cormorant Asset Management, with “significant participation” The Capital Partnership (TCP), the PA MedTech VC Fund and Shifamed angel investors.
Furthermore, the company stated in the release the funding will be used to “further product development, scale manufacturing capabilities, and support first-in-human investigation of the company's Calibreye System.” The Calibreye System aims to “optimize reduction of IOP for patients with moderate to advanced glaucoma.”
"Glaucoma is increasingly challenging to manage, particularly as the condition progresses to moderate and advanced stages," said Bihua Chen, founder and chief executive officer at Cormorant Asset Management. "We are pleased to lead this round and believe Myra Vision's controlled and personalized approach will deliver a much-needed surgical solution for this large and underserved segment of the glaucoma market."
Robert Chang, president and chief executive officer of Myra Vision discussed the Calibreye System and the funding in the press release.
"The Calibreye System is designed to allow physicians to safely optimize aqueous outflow and effectively manage the evolving clinical needs of each patient," stated Chang. "We are pleased to close this round of financing with strong continued support from our investors. The team has made tremendous progress and we look forward to the next step towards delivering this meaningful solution for glaucoma patients."
In June 2021, the company closed on $17 million in Series A financing to “advance product development, scale infrastructure, and expand their team.”
The company is currently enrolling for a clinical trial (NCT05885022) for the Calibreye System that aims to evaluate the surgical procedure, safety and effectiveness of the system in reducing intraocular pressure in subjects with open-angle glaucoma. The estimated date for the completion of the study is April 2025.