Massachusetts, the U.S.A-based clinical-stage company developing a minimally-invasive treatment for keratoconus, CXl Ophthalmics, raised USD 32 million in recent funding. The Series A round took place on September 30, 2022. Through its Global Health Private Equity strategy, AXA IM Alts led the firm’s financing.
Besides, a syndicate of individual investors, including leading cornea specialists, joined in the investment.
Purpose of funding for CXL Ophthalmics
With the fresh proceeds from Series A funding, the company intends to support the advancement of its cross-linking system, EpiSmart, through Phase 3 trials on the way to a New Drug Application with FDA.
What the CEO and CMO of the company have to say
Michael D. Webb, President and Chief Executive Officer of CXL Ophthalmics, said, “EpiSmart has the potential to be a game-changer for the treatment of keratoconus. With a true epithelium-preserving (Epi-On) approach, CXLO is striving to deliver safer and more accessible care globally to the millions of patients at risk of vision loss. Today’s funding announcement is an important step in achieving this goal.”
Michael W. Belin, CXLO’s Chief Medical Officer, further added, “A safer treatment that does not disrupt the epithelium could enable treatment upon diagnosis and vision preservation for a broader group of patients. The EpiSmart trial will enrol patients upon diagnosis with tomographic imaging, which can detect keratoconus at its earliest stages. “
What the investor has to say
Curt LaBelle, MD, MBA, Head of Healthcare Private Equity at AXA IM Alts, said, “Keratoconus is undertreated globally. The current standard of care, Epi-Off cross-linking, can be painful and require months of recovery, limiting its utilization. CXLO’s Epi-On approach has the potential to safely deliver vision-preserving treatment to millions of patients globally, including resource-limited areas where Epi-Off treatment would be untenable due to the risk of infection and inadequate access to follow-up care.”
About the company
Dr Roy S Rubinfiled brought the company into existence. The U.S.A-based company CXLO is developing a minimally-invasive treatment for an ectatic corneal disease that can bring early intervention to millions of patients globally. Its patented EpiSmart system is a transformative cross-linking system designed to treat keratoconus. Moreover, the treatment works without disrupting the epithelium, rapidly returning to normal activities. CXL Ophthalmics is in the process of initiating Phase 3 clinical trials for the treatment of keratoconus with EpiSmart.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
