NEWARK, DE — Ace Vision Group Inc. raised $13.3 million to fund development of its VisioLite Ophthalmic Laser, a touchless therapeutic device for the treatment of age-related vision dysfunction.
The company is also in pre-clinical development of its proprietary procedure, Laser Scleral Microporation, a minimally invasive rejuvenation procedure for the treatment of presbyopia, glaucoma and other eye diseases, according to a press release.
“This funding round validates Ace Vision Group’s path forward to explore the potential of Laser Microporation technologies, a new frontier in eye therapy,” said Dr. AnnMarie Hipsley, founder and CEO of Ace Vision. “Our focus is to provide a first-in-class novel therapeutic technology to address and potentially prevent numerous age-related dysfunctions of the eye, which lead to functional vision loss. We are excited to bring this therapeutic technology to patients suffering from presbyopia, which is a vast market with a large unmet need.”
The funding was led by Robert Picerne of Picerne Group LLC, as well as its venture capital affiliates and a strategic partner. The Series A preferred stock round was $3.3 million oversubscribed.
“The continued support of our primary investors is a strong vote of confidence,” said Joseph Carroll, a member of the Ace Vision board of directors. “We continue to be impressed with the progress Ace Vision Group has made in developing a fully automated platform to treat age-related conditions in the eye, including presbyopia and glaucoma. The potential of this technology is remarkable and will have many applications for various eye diseases.”