Lexington, KY – July 15, 2015
Omega Ophthalmics LLC (Omega) is pleased to announce that the company has successfully raised a Series A investment from private investors. This first round of financing is intended to carry Omega through its animal trials and begin the “first in man” clinical trials for its medical device as required by FDA regulations.
Clinical animal studies has shown this capsular bag to be remarkably effective in helping maintain effective lens position as compared to other intraocular lenses, a critical component of cataracts surgery that determines whether or not a patient will need post-operative corrective lenses. The first human trials are scheduled to begin at the end of this year.
Throughout meetings with private investors, Omega CEO Rick Ifland was able to gauge the exceptional interest in Omega’s technology. Says Ifland: "We are pleased to announce that our Series A Preferred round of funding was successfully completed in a timely and favorable way. We are now well-positioned to head into our First In Man trials in the next few months. We will be commencing a Series B Preferred round of funding in August so that we keep well ahead of anticipated expenses as our technology begins to work its way through the regulatory process."
The funding will also be used to bolster Omega’s already impressive intellectual property family, which has been steadily growing since Omega was founded in 2012. The company has already filed several patents for its proprietary prosthetic capsular bag, including issued patents in the United States, Canada, Japan, pending patents in Australia, India, and Europe, and a pending PCT patent that would provide intellectual property coverage in 146 countries.
Cataract surgery is the single most common surgical procedure performed in the United States annually. With the global cataracts market currently projected to reach $4.3 billion by 2017, Omega’s capsular bag is well-positioned to become the new standard lens for cataract surgery.
ABOUT OMEGA OPHTHALMICS
Omega Ophthalmics is a medical device company making significant advancements in the global ophthalmology industry through its patent-pending, proprietary technologies for intraocular lenses, capsular bags, and high technology applications within the eye. Founded by Gary Wörtz, MD and Rick Ifland, Omega is headquartered in Lexington, KY.
For more information about Omega Ophthalmics, contact Rick Ifland, CEO.
For more information about Omega's technology, contact Gary Wörtz, MD, CMO.