Investment will be used to develop new products and drive adoption.
DALLAS, Texas, September 12, 2022 – Neurolens, a company commercializing innovative solutions to optimize vision, today announced completion of a $67 million financing. The financing was led by MVM Partners, with additional participation from Falcon Vision/KKR, Marshall Wace, and existing investors including Bluestem Capital. Raymond James was the exclusive agent on this round of financing.
The investment will fuel continued product innovation and growth initiatives, further accelerating the adoption of Neurolens.
“While we have grown tenfold in the past three years, the unmet patient need remains massive,” said Pierre Bertrand, Neurolens CEO. “Nearly 6 out of 10 Americans are reporting daily symptoms of Digital Vision Syndrome, and we are excited to continue bringing solutions to independent optometry to meet their needs. We are grateful to see both current and new investors embrace our mission to transform eyecare beyond visual acuity.”
Dr. Eric Bednarski, Partner at MVM, commented “Neurolens offers a remarkable solution to address the widespread problems that patients experience due to DVS. We are pleased to partner with Neurolens to support its continued growth.” Dr. Akhilesh Pathipati, Partner at MVM, added “The team at Neurolens has shown tremendous leadership and dedication while innovating in a market poised for growth. We are thrilled to work with them to continue changing the lives of patients.” Drs. Bednarski and Pathipati joined the Neurolens Board of Directors as a part of this financing.
The investment follows two recent announcements signaling the unprecedented acceleration of Neurolens within the vision industry. In late August, Inc. revealed that Neurolens had been recognized as the 28th fastest growing healthcare company on its annual Inc. 5000 list, a prestigious ranking of the fastest-growing private companies in America. Earlier in August, Neurolens released the results of a parallel arm study evaluating reading speed at baseline. The study revealed that after seven days of lens wear, the average improvement in reading speed with Neurolenses was almost 70% higher than the improvement seen with other premium lens designs.
To learn more about Neurolens, please visit our website at https://www.neurolens.com.
About Neurolens
Neurolens commercializes breakthrough technology to improve vision care. With patented contoured prism technology, Neurolenses are the first and only prescription lenses that go beyond visual acuity to provide comfort for the majority of adults who experience the symptoms of Digital Vision Syndrome (DVS), a description commonly used to describe a number of eye-related symptoms such as headaches, eye strain, motion sickness and dry eye sensation. The Neurolens contoured prism design helps the eyes work together comfortably, bringing the eyes into alignment to relieve the painful symptoms associated with DVS. Technology from Neurolens is only available to independent eyecare providers.
About MVM Partners
MVM has invested in high growth healthcare businesses since 1997. The firm has a broad, global investment outlook spanning medical technology, pharmaceuticals, diagnostics, digital health, and other sectors of healthcare.
About Falcon Vision
Falcon Vision is an ophthalmology-focused platform supported by KKR. The platform invests in and manages a diversified portfolio of emerging assets across medical devices and biopharmaceuticals. Falcon Vision’s strategy is to address the need for capital, access to executive talent, and operational guidance to support advancement of innovative products for under-managed ophthalmic diseases and vision preservation. Falcon Vision collaborates with the team at Flying L Partners to identify and execute new opportunities.
About Marshall Wace
Founded in 1997, Marshall Wace is a global alternative investment manager. Marshall Wace combines fundamental investing with systematic and quantitative strategies utilizing proprietary systems and processes.
About Digital Vision Syndrome
Nearly 2/3 of adults experience the painful symptoms of Digital Vision Syndrome, which including chronic headaches, neck pain, eye strain and dry eye sensation. Fortunately, relief is in sight with Neurolenses, which go beyond visual acuity to restore naturally comfortable vision.