Navigation Links
PixelOptics Closes $45 Million Financing

ROANOKE, Va., April 7, 2011 /PRNewswire/ -- PixelOptics ("Pixel"), the world's first electronic focusing eyeglass company, announced today the successful closing of a $45M financing lead by Safeguard Scientifics, Inc. (NYSE: SFE).  The financing is comprised of $35M equity investment and $10M venture debt.  Participating venture capital organizations include: Safeguard Scientifics, Delphi Ventures, The Carlyle Group, Longitude Capital, and Stark Investments.  Horizon Technology Finance (Nasdaq: HRZN) provided the venture debt funding.

PixelOptics' core product emPower!™ was recently launched on March 18th during the International Vision Expo East in New York City.  emPower! is the world's first and only electronic focusing eyeglasses:  Capable of being fabricated in all prescriptions, emPower! will be available in numerous high fashion styles, shapes, sizes and colors beginning this spring.  emPower! changes optical power focus faster than the blink of an eye without moving parts and without making a sound.  These high-tech eyeglasses are waterproof and shock resistant and have three modes of operation: manual on, manual off, and fully automatic.

Ron Blum, O.D., Pixel's President and CEO said, "We are extremely pleased to have successfully closed on this new capital.  We also feel very humbled and fortunate to have forged such a very strong and credible financial syndicate led by a quality company such as Safeguard Scientifics. This will now allow us to grow Pixel properly as well as provide the company with the needed capital to support an ambitious launch for emPower!.  We anticipate launching emPower! across North America and beginning a regional rollout in Europe within the next 12 months.  Following this, we expect to start selling emPower! in Asia within 24 months. "

Gary J. Kurtzman, M.D., Managing Director in the Life Sciences Group at Safeguard Scientifics stated, "The Pixel team has developed a disruptive technology with emPower! that will revolutionize the standard of care for eyeglass wearers, specifically those with presbyopia. Pixel aligns with Safeguard Scientifics' focus to partner with companies that have an innovative product or service, rapid path to commercialization and a strong management team. I have been wearing emPower! every day since we began our due diligence process and can't imagine going back to standard progressive lenses. I expect that millions of other eyeglass wearers around the world will agree." Dr. Kurtzman, along with Stephen T. Zarrilli, Senior Vice President and Chief Financial Officer at Safeguard Scientifics will be joining Pixel's board of directors.

Clay Musslewhite, Director of Marketing for Pixel further added, "emPower! has received unprecedented global media attention for an optical product from global media companies.  Within the last three months, emPower! has generated nearly 300 million impressions worldwide. Major media companies and publications, include The New York Times,  USA Today, Popular Science Magazine, CNN, CNBC, MSNBC, ABC, CBS, Fox Business, LIVE! with Regis and Kelly, Good Morning America, PC Magazine, Maximum Tech Magazine and foreign publications such as The London Times, NZZ Online (Switzerland), El Pais (Spain), The Telegraph (UK), MedIndia (India), The Eyes (Japan), (The Netherlands), H KAOHMEPINH (Greece),  and La Tercera (Chile) have all highlighted emPower! within the last three months.  The public and media interest in emPower! is the strongest I have ever seen in the optical industry.  No other optical product (lenses and / or frames) has received such a high level of media attention and interest."

About PixelOptics:

Headquartered in Roanoke, Virginia, PixelOptics is committed to "transformational innovation" in the spectacle lens industry.  The company's focus is on improving and elevating the current standard of vision correction by inventing, developing and marketing a wide range of innovative new products based on dynamic focusing lenses, innovative lens design technologies, and composite optics. PixelOptics is dedicated to helping consumers see better and more comfortably, while at the same time helping the vision care industry to grow. For additional information on Pixel please visit:  For additional information on emPower! electronic focusing eyeglasses please visit

About Safeguard Scientifics:Founded in 1953 and based in Wayne, PA, Safeguard Scientifics, Inc. (NYSE: SFE) provides growth capital for entrepreneurial and innovative life sciences and technology companies. Safeguard targets life sciences companies in Molecular and Point-of-Care Diagnostics, Medical Devices, Regenerative Medicine, Specialty Pharmaceuticals and selected healthcare services, and technology companies in Internet / New Media, Financial Services IT, Healthcare IT and selected business services with capital requirements of up to $25 million. Safeguard participates in expansion financings, corporate spin-outs, management buyouts, recapitalizations, industry consolidations and early-stage financings. For more information, please visit our website at, our blog at or you can follow us on Twitter @Safeguard and LinkedIn.

About Horizon Technology Finance Corporation:Horizon Technology Finance Corporation is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries. The investment objective of Horizon Technology Finance is to maximize total risk-adjusted returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants to purchase the equity of portfolio companies. Headquartered in Farmington, CT, with a regional office in Walnut Creek, CA, the Company is externally managed by its investment advisor, Horizon Technology Finance Management LLC. To learn more, please visit GoodwinMakovsky +

SOURCE PixelOptics
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. AnaBios Corporation Closes Series A Financing
2. OncoSec Medical Closes Purchase and License Agreement for Tumor Therapy Technology with Inovio Pharmaceuticals
3. OncoSec Medical Closes $1.1M Financing
4. Patient Safety Technologies, Inc. Closes $7.1 Million Common Stock Offering
5. BridgePoint Medical Closes $9.1 Million Series C Financing
6. Palatin Technologies, Inc. Closes $23 Million Public Offering
7. Sonoma Orthopedic Products® Closes $22 Million Series D Financing
8. Rock Creek Pharmaceuticals Discloses Filing of Provisional Patent Application For Isolated Anatabine Isomer
9. Savient Closes Sale of $230 Million in Convertible Senior Notes
10. Inovio Pharmaceuticals Closes $24.3 Million Registered Offering
11. WebMD Closes Offering of 2.50% Convertible Notes Due 2018
Post Your Comments:
(Date:12/1/2015)... -- Royal Philips  (NYSE: PHG, AEX: PHIA) ... that produces high-contrast images for all anatomies in situations ... the 2015 Radiological Society of North America Annual ... digital imaging solution providing grid-like contrast improvement and enhanced ... supports "first-time-right imaging" by decreasing the need for retakes ...
(Date:12/1/2015)... 2015 Array BioPharma Inc. (Nasdaq: ... Chief Executive Officer, Ron Squarer , ... Conference in New York.  The public is ... a webcast on the Array BioPharma website. ... --> , --> ...
(Date:12/1/2015)... , Dec. 1, 2015 Pharma Tech Outlook ... Top 10 Clinical Data Management Solution Providers - 2015 ... distinguished panel comprising CEOs, CIOs, VCs, analysts, and the ... illustrious list of top 10 clinical data management solution ... on pages 14 and 36 respectively). ...
Breaking Medicine Technology:
(Date:12/1/2015)... Tampa, FL (PRWEB) , ... December 01, 2015 , ... Florida Hospital Tampa ... the treatment of obesity in the state of Florida. , vBloc® Therapy is a vagal ... age of 18 years with a body mass index (BMI) of at least 40 to ...
(Date:12/1/2015)... ... December 01, 2015 , ... Califia Farms , one of the ... bottle has won top honors in Beverage World Magazine’s Global Packaging Design Awards, taking ... it has been selected as a 2015 U.S.A. Taste Champion in the American Masters ...
(Date:12/1/2015)... ... December 01, 2015 , ... December ... the expansion of the company’s growing product line of food safety and seafood ... and Sockeye (Oncorhynchus nerka) – allow InstantLabs to offer fast, reliable species identification ...
(Date:12/1/2015)... ... December 01, 2015 , ... The workstation boundaries for ... IMAGE Information Systems launches MED-TAB™ -- the world’s first portable DICOM-calibrated medical image ... 29 to December 4, 2015. , MED-TAB is expected to change teleradiology ...
(Date:12/1/2015)... ... December 01, 2015 , ... For ... That is why Hollister Incorporated has launched the VaPro Plus Pocket™ touch free ... in the VaPro touch free catheter portfolio,” said Michael Gresavage, Vice President North ...
Breaking Medicine News(10 mins):