MENLO PARK, Calif., Jan. 7 /PRNewswire/ -- ForSight Labs, LLC announced today the formation and funding of its third company, ForSight VISION3, Inc. with a Series A financing of $6 million, supported by three of the leading venture capital firms in the medical technology arena: Morgenthaler Ventures, Split Rock Partners and Versant Ventures.
"We are excited to have closed a significant round of funding to develop our next innovative ophthalmic technology," said K. Angela Macfarlane, President and CEO of ForSight VISION3. "The ForSight team is already assessing dramatic new opportunities."
The existing ForSight VISION companies, Transcend Medical, and ForSight Newco II (now a wholly owned subsidiary of QLT, Inc.) have each developed high impact products for major ophthalmic markets.
"Ophthalmology continues to have a considerable need for new technologies to address vision loss in all market segments," said Eugene de Juan, Jr. MD, Founder and Vice Chairman of ForSight Labs. "ForSight VISION3 is well positioned to carefully select and develop successful product solutions." Each of the venture partnerships will take a seat on the ForSight VISION3 Board of Directors.
About ForSight Labs, LLC
ForSight Labs is a community of ophthalmic innovation focused on
improving the sight, care, and quality of life of visually impaired
patients by creating high-impact eye care companies
(http://www.forsightlabs.com). ForSight Labs, LLC was established in 2005
by renowned ophthalmologist and retinal surgeon Eugene de Juan, Jr. MD in
collaboration with The Foundry (http://www.thefoundry.com). In late 2006,
ForSight Labs launched its first company, Transcend Medical, Inc. In
October 2007, its second spin out company ForSight Newco II, Inc.,
developing a proprietary ocular punctal plug drug delivery system, was
acquired by QLT Inc. (Nasda
|SOURCE ForSight Labs, LLC|
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