HARRISBURG, PA — MacuLogix Inc., which equips eyecare professionals with the instrument, tools and education to diagnose and treat patients with age-related macular degeneration, has completed a financing round totaling $38.7 million.
The Series D was led by new investor Vivo Capital with participation from existing investors Fisk Ventures, Roche Venture Fund, Berwind Private Equity and Life Sciences Greenhouse of Central Pennsylvania. To date, MacuLogix has raised $51 million in venture funding plus $10 million in venture debt.
“AMD is the leading cause of adult blindness in the Western world because we haven’t had the technology or tools to effectively detect and manage this progressive, chronic disease – until now,” said William D. McPhee, president and CEO of MacuLogix. “Our company is determined to see AdaptDx functional testing become the standard of care, enabling eye care professionals to detect, treat and manage AMD earlier and more effectively.
“With this funding and the addition of Vivo Capital, we are fully backed by a strategic group of investors who support our company’s vision to eliminate blindness caused by AMD.”
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This funding will be used to further expand the MacuLogix team and company infrastructure to support the growing sales and practice integration efforts of the AdaptDx automated dark adaptometer, both domestically and internationally. Joining the MacuLogix board of directors with this round of funding are Jack B. Nielsen, managing director of Vivo Capital; Nathan Dau, principal of Vivo Capital; and Carole Nuechterlein, head of Roche Venture Fund. The remaining board members are:
- William D. McPhee, President and CEO, MacuLogix
- Gregory R. Jackson, Ph.D., Co-founder and Chief Technology Officer, MacuLogix
- Stephen L. Rose, Managing Director of Fisk Ventures, LLC
- Ronald P. Thiboutot, Ph.D., SVP of Science and Technology, Life Sciences Greenhouse of Central Pennsylvania
“Maculogix is entering a rapid commercial expansion phase and is a very good fit for our investment strategy,” Nielsen said. “The AdaptDx is uniquely situated to help patients being diagnosed at an early stage of AMD and enable better and earlier monitoring and treatment of the disease.”
New Harbor Venture Partners acted as the exclusive placement agent in this transaction.