Key Takeaways:
- Ciliatech, a medtech company specializing in ophthalmology, has raised €3.5M (approx. $4M) in Series A funding from BNP Développement, Kreaxi, and Bernard Chauvin, all historical investors.
- The funds raised will be used to advance the development of CID (Cilio-scleral Inter-positioning Device), a groundbreaking glaucoma implant that differs from traditional implants by leaving the anterior chamber of the eye untouched, leading to reduced complications and improved patient quality of life.
- Ciliatech plans to use the funds to achieve key R&D milestones and obtain CE mark approval by the end of 2024, while continuing its clinical research program.
Medtech Company Ciliatech Raises €3.5M to Develop Groundbreaking Glaucoma Implant
Chavanod, France – Ciliatech, a medtech company specializing in ophthalmology, has announced it has raised €3.5M in Series A funding from BNP Développement, Kreaxi, and Bernard Chauvin. This funding will be used to advance the development of CID (Cilio-scleral Inter-positioning Device), a groundbreaking glaucoma implant that differs from traditional implants by leaving the anterior chamber of the eye untouched, leading to reduced complications and improved patient quality of life.
What is Glaucoma?
Glaucoma is a common eye disease that affects more than 80 million people worldwide. It occurs when the fluid in the eye, called aqueous humor, builds up and causes the intraocular pressure (IOP) to increase. This damages the optic nerve and can lead to irreversible vision loss. The traditional surgical approach to treating glaucoma involves penetrating the anterior chamber of the eye, leading to various complications, such as the formation of a fluid blister on the eye’s surface or under the eyelid, endothelial cell loss, and the need for glaucoma medication.
Ciliatech’s Groundbreaking Glaucoma Implant
Ciliatech’s CID is a groundbreaking glaucoma implant that addresses the shortcomings of traditional approaches. Unlike other implants, CID does not penetrate the anterior chamber of the eye, leaving it untouched. Instead, it is inserted between two areas of the eye, the ciliary body, and the sclera, offering the unparalleled advantage of unlocking the natural uveoscleral pathway without altering the anterior segment of the eye.
CID’s innovative approach allows glaucoma patients to avoid a host of medical complications, including the formation of a fluid blister on the eye’s surface or under the eyelid and endothelial cell loss. In clinical trials, CID has demonstrated its success in stabilizing IOP over time, within the safe zone of 15 mmHg, along with significantly reducing the need for glaucoma medication (-85%) and with no treatment failure. CID also simplifies post-operative patient care, substantially improving patient quality of life.
Series A Funding to Advance CID’s Development
Ciliatech’s Series A fundraising will advance CID’s development and pave the way for CE mark approval by the end of 2024. The funds will be used to achieve key R&D milestones and fulfill regulatory affairs requirements, as well as continue its clinical research program. Ciliatech will roll out a new clinical trial in Q2, 2023, to gather more knowledge about CID’s safety and performance in various patient populations and clinical settings.
Investors’ Confidence in CID’s Disruptive Technology
Ciliatech’s investors have expressed confidence in the innovative qualities of CID, recognizing its potential to enable a pivotal change in the treatment of glaucoma. Sophie Pierrin-Lepinard, investment director at BNP Paribas Développement, said:
“Thanks to its simple design and smart surgical placement, it will transform patient life by dramatically reducing post-op side effects and medication.” Isabelle Bou Antoun, managing director at Kreaxi, added, “Ciliatech’s novel approach to treating glaucoma with long-lasting effect and by the remarkable clinical results we have seen on both first- and second-generations of its implant, CID.” Bernard Chauvin, investor, also expressed his confidence in CID’s benefits, saying, “Being an ophthalmologist myself and an entrepreneur in ophthalmic treatments, I am fully confident that ophthalmologic surgeons and the wider community will see the true benefits of CID, as it delivers strong IOP reduction using a simple surgical act, while overcoming the drawbacks in conventional surgical techniques.”
CID’s Promising Clinical Trial Results
Ciliatech’s positive clinical trial results of a 24-month post-operative follow-up on the first-generation of CID and the promising clinical outcomes at six months on a second-generation device spurred investors to finance the next steps. The observations of patients using Ciliatech’s first-generation CID after 24 months have been encouraging, with clinical outcomes on the second-generation device looking even more promising. The company is particularly satisfied with the safety profile and the high number of patients still medication-free at 24 months.
Ciliatech’s Founders
Ciliatech’s founders, Philippe Sourdille, a renowned ophthalmic surgeon, and CEO Olivier Benoit, have witnessed great progress in glaucoma surgery over the last decade. In their view, new developments have enabled the possibility of avoiding the drawbacks of trabeculectomy, the ‘Gold Standard’ surgical technique. According to Ciliatech, these advances usually require a trade-off at the expense of obtaining a lower IOP reduction or not sustaining it over time, and/or still show possible significant complications.
Ciliatech’s Vision
Ciliatech’s achievement in developing CID, a glaucoma implant that addresses all the shortcomings of traditional approaches, has put it on a path towards engaging further with ophthalmic surgeons and glaucoma practitioners, as it progresses towards CE mark approval. CID is a glaucoma implant that offers patients a long-lasting effect with zero adverse effects. With the funds raised in the Series A funding, Ciliatech will continue to advance the development of this groundbreaking technology that enables a pivotal change in the treatment of glaucoma.
Conclusion
Ciliatech’s vision of engaging further with ophthalmic surgeons and glaucoma practitioners demonstrates its commitment to delivering innovative solutions that address the shortcomings of traditional approaches. CID’s long-lasting effect with zero adverse effects offers glaucoma patients hope for improved outcomes and a better quality of life. As Ciliatech continues to progress towards CE mark approval, it is poised to make a significant impact in the field of ophthalmology and transform the treatment of glaucoma for the better.
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