SpyGlass Pharma Secures $90M in Series C Funding to Advance Novel Treatments for Glaucoma and Other Persistent Eye Conditions
RA Capital Management Leads Investment Round, Joined By New Enterprise Associates, Vensana Capital, Samsara BioCapital, and Vertex Ventures HC
Funding Round Info:
Today, SpyGlass Pharma revealed the completion of a $90 million Series C funding round. RA Capital Management took the lead in the financing, accompanied by existing investors New Enterprise Associates ("NEA") and Vensana Capital, as well as new investors Samsara BioCapital and Vertex Ventures HC. This financial boost will empower the company to conduct numerous clinical trials in the United States for SpyGlass' groundbreaking drug delivery platform. By implanting the SpyGlass system during routine cataract surgery, it holds the potential to provide extended medical therapy for several years, addressing crucial unmet needs in the management of glaucoma and other chronic ophthalmic diseases.
About SpyGlass Pharma:
SpyGlass Pharma assembles talented engineers, scientists, and clinicians in the field to create revolutionary treatment choices for individuals enduring ophthalmic ailments. The company's products cater to unfulfilled requirements in cataracts, lens replacement, surgical procedures, and various persistent ophthalmic diseases. Its delivery system, integrated with an intraocular lens, is implanted into the capsular bag using standard cataract surgical techniques. This empowers cataract surgeons to administer multi-year therapy for chronic ophthalmic conditions simultaneously with a common eye procedure, providing patients with affordable, high-quality eye treatment.
About RA Capital Management:
RA Capital Management is an investment manager operating across multiple stages, committed to supporting the establishment of companies and employing evidence-based investment strategies in the healthcare and life science sectors. Their focus lies in supporting the development of drugs, medical devices, diagnostics, services, and research tools. With a portfolio of private and public companies that stretches across the world and encompasses various therapeutic areas, they cover all stages of development from discovery to commercialization. RA Capital Management places a strong emphasis on promoting diversity within their organization, as well as within their portfolio companies and the wider biotech community.
About New Enterprise Associates:
New Enterprise Associates (NEA) is a private equity and venture capital firm with a global presence. NEA provides capital for companies in all financing stages, ranging from seed to public. NEA primarily invests in the technology and healthcare industries. NEA contributes to a better world by supporting founders in creating exceptional companies that enhance our lifestyles, work environments, and recreational experiences.
About Vensana Capital:
Vensana Capital is an investment firm focused on venture capital and growth equity, specifically targeting partnerships with entrepreneurs who aspire to revolutionize healthcare through groundbreaking advancements in medical technology. With a strong emphasis on the medtech sector, Vensana Capital is actively investing in companies operating in various areas such as medical devices, diagnostics and data science, drug delivery, digital health, life science tools, and technology-enabled services. Their aim is to support the development and commercialization of these companies' transformative innovations.
About Samsara BioCapital:
Samsara BioCapital is a venture capital firm that primarily invests in the life sciences, oncology, and digital healthcare sectors. Samsara offers capital throughout a company's entire risk cycle, spanning over several years, regardless of whether the company is privately held or publicly traded. Samsara distances themselves from the mindset of seeking quick exits, as they firmly believe that such an approach aligns with the life cycle of our investments.
About Vertex Ventures HC:
Vertex Ventures HC (VVHC) is an investor in various segments of the healthcare industry, encompassing biopharmaceuticals, medical devices, and digital health. Their portfolio encompasses companies at every phase of development, ranging from early-stage and preclinical ventures to established commercial enterprises looking for further expansion. Driven by a commitment to addressing substantial unmet needs, VVHC focuses on nurturing exceptional companies that enhance human health and well-being.