October 04, 2013—Laser cataract surgery system developer LENSAR Inc. (U.S.A.) announced on 2 October the closing of a deal to secure $87 million in financing to support expansion into the multimillion-dollar cataract surgery market. The funding involves $27 million in private equity financing and up to $60 million in debt financing. Investors include Aisling Capital, Florida Opportunity Funds and new investor PDL BioPharma.
The company launched the next-generation cataract surgery system in March 2012, with a $24 million financing round from Aisling Capital and Florida Growth Fund. The new equity round will support LENSAR’s long-term growth in the commercial cataract surgery market in North America, Europe, Asia and Latin America, as well as other select markets. The financing will also be used to support development in the hardware and software behind the novel laser system. The LENSAR laser system uses “augmented reality” technology to model the anterior anatomy of the eye in 3-D, which helps surgeons provide more precise placement of laser pulses and incisions.