Implandata Ophthalmic completes first closing on series C funding round

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The company plans to complete the series C later this year. (Flickr)

Implandata Ophthalmic, a German maker of ophthalmic medical devices, announced a first closing of its series C round of funding that will be used to commercialize its Eyemate system focused on glaucoma care.

The company didn’t give a specific dollar amount for the round, saying only that it raised a “mid-single digit million Euro amount” of financing. It plans to complete the series C later this year with hopes of raising “an upper end single digit million Euro,” the company said.

New investors in the round included Heidelberg Engineering GmbH/Germany, Occident Group AG/Switzerland and NKB GmbH/Germany. Existing investors in the latest financing included KfW, HTGF, Peppermint Charité Beteiligungsfonds and several private investors and ophthalmologists.

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“This first C-round closing enables us to diligently pursue commercialization of our CE marked Eyemate system for improved glaucoma care in Europe, to further advance our product pipeline and to commence U.S. regulatory activities,” Max Ostermeier, Implandata’s chief executive, said in a statement. “We are in particular excited about the competence and expertise of the new investors, enabling us to reach important value inflection points rapidly.”

The Eyemate system includes an implant placed into the eye and a sensor that is positioned in front of the eye every time an intraocular pressure reading is to be taken. The patients can do this themselves and readings take seconds to perform, so medications can be adjusted quickly.