Investors include Warburg Pincus & Co. and Elron Electronic Industries.
NuLens Ltd. today announced that it has raised $6 million in its second financing round. Warburg Pincus & Co., which manages $4.3 billion for in investments in various life sciences sectors, led the round. Prior investor Elron Electronic Industries Ltd. (Nasdaq: ELRN; TASE: ELRN), which owns 25% of NuLens, also invested in the round.
NuLens is developing fully an accommodative intra-ocular lens (IOL) for implants in patients suffering from cataracts and presbyopia (blurred vision at near points). NuLens chief medical officer Dr. Joshua Ben-Nun founded the company in 2002. It has ten employees in Israel. Elron and private investors have invested $3 million in the company to date.
Over the coming year, NuLens plans to begin clinical trials in Europe, with the support of an expert advisory committee of senior cataract and refractive surgeons.
Published by Globes [online], Israel business news - www.globes.co.il - on March 12, 2006
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