OptiMedica Secures Growth Financing for Cataract Surgery System

Sunnyvale, Calif.-based OptiMedica Corp. has closed on a $35 million growth round of financing for the commercialization of its Catalys precision laser system for cataract surgery. The money also will fund system enhancements and a next-generation portfolio of additional products, company officials said. This round of financing drew participation from all of OptiMedica’s existing venture backers, including Kleiner Perkins Caufield & Byers, Alloy Ventures, DAG Ventures, BlackRock Private Equity Partners and Bio-One Capital.

“OptiMedica has been committed to bringing the precision and safety benefits of femtosecond laser technology to cataract surgery since our founding in 2004,” said Mark J. Forchette, OptiMedica president and CEO. “Today, we are standing at the forefront of a landscape shift in the field that, we believe, will ultimately make the laser the centerpiece of the procedure. Catalys has been shown in both clinical practice and clinical studies to deliver unparalleled precision and performance, with results and customer satisfaction that lead the industry. Our laser technology has enabled surgeons to achieve excellent clinical results and explore a broad new area of innovation in the field.”

OptiMedica’s Catalys is cleared by the U.S. Food and Drug Administration and CE mark approved for performing every step of the laser cataract procedure. Since its international launch in November 2011 and its U.S. launch in February 2012, the system has been installed at leading ophthalmic practices in 10 countries and used to perform more than 6,000 laser cataract procedures worldwide. The first Catalys procedures in the United States were performed at the Mann Eye Institute in Houston, Texas.

According to OptiMedica, surgeons have reported positive results with Catalys, including complete capsulotomies (incisions into the lenses of the eye), elimination of ultrasound energy during lens disassembly and removal, and precise corneal incisions. They also report little or no learning curve with the system.

“The adoption of Catalys is not only a direct result of the system’s performance but also of the talent and Silicon Valley culture that you’ll find at OptiMedica,” said Brook Byers, partner, Kleiner Perkins Caufield & Byers, and board chairman at OptiMedica. “This is a company with a record of delivering innovation that transforms existing standards of care. We are enthusiastic about OptiMedica’s prospects to lead the field of cataract surgery and continue to drive better results for cataract surgeons and their patients.”

In March, OptiMedica moved its headquarters to a location that was triple the size of its previous facility. The company is focused on developing femtosecond laser technology that can replace the inconsistent manual steps in cataract surgery.