ForSight VISION5 has closed $15 million in Series C financing. H.I.G. BioVentures led the round with participation from previous backers Morgenthaler Ventures, Versant Ventures, Technology Partners and Delphi Ventures. Concurrent with the funding, Aaron Davidson of H.I.G. BioVentures has been added to ForSight VISION5′s board of directors. Based in Menlo Park, Calif., ForSight VISION5 focuses on developing products that replace eye drops.
MENLO PARK, Calif., April 16, 2014 /PRNewswire/ — ForSight VISION5 is pleased to announce it has recently closed its Series C round of funding and has also completed enrollment in its Phase 2 Clinical Study for the HeliosTM ocular insert, its lead product candidate. ForSight VISION5 is developing non-invasive products to replace eye drops and provide sustained therapy for major anterior segment eye diseases including glaucoma, dry eye, and allergy.
ForSight VISION5 has completed its Series C financing which raised $15 million and was led by H.I.G. BioVentures of Miami, Florida. Returning investors Morgenthaler Ventures, Versant Ventures, Technology Partners, and Delphi Ventures also broadly supported the financing. Aaron Davidson, of H.I.G. BioVentures joins the ForSight VISION5 Board of Directors. Mr. Davidson commented “We are very enthusiastic about the ForSight VISION5 investment opportunity. We believe that millions of patients with glaucoma and ocular hypertension will benefit from the company’s lead product candidate and we also see the potential to broaden the company’s impact as it develops additional products.”
The Company has completed enrollment of over 160 subjects in its randomized, active controlled Phase 2 Study of the Helios insert in patients with glaucoma and ocular hypertension. “Completing enrollment in the Phase 2 study is a significant milestone for ForSight VISION5 and the study’s investigators and we are eager to see the final data later this year” said Study Principal Investigator Prof. James Brandt of University of California, Davis. He added, “The Company’s lead product candidate has the potential to change how we treat patients who have glaucoma and ocular hypertension; in the longer term, the Company’s Helios platform may provide an alternative method to treat our patients across a broader spectrum of chronic eye disease.”
John Maroney, CEO of ForSight VISION5, said “I am thrilled to have the support of H.I.G. BioVentures and our returning investors as we continue to advance our Helios insert and other product candidates through major technical and clinical milestones. Our investors have shown deep confidence in our team and programs with this level of commitment. I would also like to acknowledge our appreciation of our clinical investigators and their patients toward whom our efforts are dedicated. ”
About ForSight VISION5, Inc.
ForSight VISION5, Inc. (www.forsightv5.com), was founded in January of 2011 as the fifth company to emerge from the ophthalmic incubator ForSight Labs, LLC (www.forsightlabs.com). ForSight VISION5 is focused on developing non-invasive products that replace eye drops and provide sustained therapy for major anterior segment eye diseases including glaucoma, dry eye, and allergy. ForSight VISION5′s lead product candidate is the Helios insert, a novel, non-invasive delivery system designed to allow glaucoma and ocular hypertensive patients to continually receive medication.
About H.I.G. BioVentures
H.I.G. BioVentures is the dedicated life-science investment affiliate of H.I.G Capital, a leading global private equity investment firm with more than $15 billion of equity capital under management. H.I.G. BioVentures invests in a broad range of life sciences opportunities across sectors and stages, principally in companies developing therapeutic drugs, medical devices, and diagnostics for significant unmet medical needs. With approximately $400 million in committed capital, H.I.G. BioVentures invests approximately $3 million to $40 million per company over the life of an investment. www.higbio.com
About Morgenthaler Ventures
Morgenthaler Ventures is a premier venture capital firm with over $3 billion of committed capital. Morgenthaler has invested in more than 300 companies in the life science and information technology sectors, and has partnered with some of the world’s most visionary entrepreneurs. Representative life science companies include: Ardian, OncoMed, Transcend, Nexis Vision, Promedior, Elcelyx, Holaira, Kona Medical, Moximed, Ra Pharmaceuticals, SetPoint Medical, Scioderm, Second Genome, and Silicon Valley-based incubators The Foundry and ForSight Labs. www.morgenthaler.com
About Versant Ventures
Versant Ventures is a leading venture capital firm that specializes in investment in innovative, groundbreaking bio-pharmaceuticals, medical devices, and other life science opportunities. Founded in 1999, the firm consists of an experienced team committed to helping entrepreneurs build successful companies that impact healthcare and improve quality of life. www.versantventures.com
About Technology Partners
Founded more than 25 years ago and based in Palo Alto and Mill Valley, California, Technology Partners is a venture capital firm with an investment focus in the life science and cleantech industries. The firm manages approximately $700 million in investment capital. Technology Partners’ strategy is to team with visionary entrepreneurs to build successful companies, serving principally as a lead investor and business advisor. www.technologypartners.com
About Delphi Ventures
Delphi Ventures is a venture capital firm that has focused on investing in medical devices and biotechnology for over two decades. With more than $1.1 billion in committed capital, Delphi Ventures has funded over 170 companies. More than 100 of its portfolio companies have either completed an initial public offering or have been acquired by a leading healthcare corporation. Delphi Ventures is based in Menlo Park, California. www.delphiventures.com