SOURCE: Burrill & Company

Burrill & Company

April 16, 2012 08:46 ET

Burrill & Company Leads $16.5 Million Round in WaveTec Vision to Commercialize Its Cataract Surgery Breakthrough

SAN FRANCISCO, CA--(Marketwire - Apr 16, 2012) - Burrill & Company today said it led a $16.5 million financing round for WaveTec Vision®, which recently introduced the ORA System™, a diagnostic device that brings revolutionary precision to cataract surgery.

The ORA System utilizes Optiwave™ technology with a precise new light source and optics designed to take intraoperative wavefront aberrometry to a new level of performance, enabling surgeons to optimize the result for their cataract patients.

"WaveTec Vision allows surgeons the ability to make real-time, intraoperative decisions that result in significantly improved clinical outcomes, increased patient satisfaction, and, in the end, reduction in overall healthcare costs by getting procedures right the first time," says Bryant Fong, managing director of Burrill & Company. "These are the qualities that make for a high value product opportunity for an intraoperative diagnostic, which is why we were compelled by the investment."

All of the company's previous investors also participated in this round of financing, including Versant Ventures, Accuitive Medical Ventures, De Novo Ventures and Gund Investment Corporation.

"The participation of a new lead investor further validates the scientific and clinical potential of the ORA System," said Tom Frinzi, WaveTec President and CEO. "This new capital enables us to further expand our commercial efforts as well as continued product refinement. We're confident of our leadership in this space and of our ability to help surgeons provide superior refractive cataract outcomes."

About WaveTec Vision®
WaveTec Vision, a privately held company, is the leader in intraoperative wavefront measurement technology for refractive cataract surgeons, providing on-demand information that enables achievement of the best possible vision for their patients. Based in Aliso Viejo, CA, its proprietary ORA System™ is a revolutionary diagnostic device with all new Optiwave™ technology that is designed to take intraoperative wavefront aberrometry to a new level of performance. For demanding patients -- and the skilled surgeons who serve them -- the ORA System delivers the potential for optimal results. For more information, visit www.wavetecvision.com.

About Burrill & Company
Founded in 1994, Burrill & Company is a diversified global financial services firm focused on the life sciences industry. With $1.5 billion in assets under management, the firm's businesses include venture capital/private equity, merchant banking, and media. By leveraging the scientific and business networks of its team, Burrill & Company has established unrivaled access and visibility in the life sciences industry. This unique combination of resources and capabilities enables the company to provide life sciences companies with capital, transactional support, management expertise, insight, market intelligence, and analysis through its investments, conferences, and publications. Headquartered in San Francisco, the company oversees a global network of offices throughout the United States, Latin America, Europe, and Asia. For more information visit: www.burrillandco.com.

Contact Information

  • Contact:
    Daniel Levine
    Managing Director
    Burrill & Company
    Email Contact
    415-591-5449