Myra Vision, a Shifamed portfolio company, announced today the closing of its $17M Series A financings, which will be used to advance product development, scale infrastructure, and expand their team in order to support the development of the first of its kind glaucoma treatment device.
The financings were led by The Capital Partnership (TCP), with participation from Cormorant Asset Management and Shifamed angel investors. In conjunction with the financing, the company has changed its name to Myra Vision, Inc. from Myra Medical, Inc.
“We are extremely pleased to close this round of financing with strong support from our investors, validating the clear unmet need for a treatment that safely and efficiently achieves high intraocular pressure (IOP) reduction for moderate to severe glaucoma patients.” stated Robert Chang, CEO of Myra Vision. “Myra Vision’s innovative nanotechnology device is designed to allow physicians to safely maximize outflow to achieve optimized IOP reduction.”
Glaucoma, a leading cause of blindness, affects an estimated 66M people worldwide. More than one third of patients have moderate to severe glaucoma, which requires significant reductions in IOP. Traditionally, these patients have been treated with glaucoma surgery, including trabeculectomy and tube shunt implants. Recent advances in minimally invasive glaucoma surgery (MIGS) devices offer simpler and safer surgical treatment options. While the current MIGS devices have demonstrated an improvement in complication rates, they are not able to achieve the IOP reductions necessary for the moderate to severe glaucoma patient population.
“We are pleased to lead this round and believe Myra Vision’s next-generation technology has the potential to deliver a much-needed treatment for this large and underserved segment of the glaucoma market,” commented Casey Gordon, Head of Private Investments at TCP. “With Myra’s solution, physicians can personalize outflow depending on each patient’s evolving needs. We believe this will revolutionize care by vastly improving patient outcomes and satisfaction.”