Global Health Sciences Fund, a partnership of Canada’s Quark Venture and China’s GF Securities, has invested in the $25 million financing of EyeYon Medical. Based in Tel Aviv, Israel, EyeYon is a developer of ophthalmic products for vision-threatening conditions.
VANCOUVER, British Columbia, March 15, 2021 (GLOBE NEWSWIRE) — Quark Venture LP (Quark) and GF Securities participated in the $25 million financing of EyeYon Medical, to advance its EndoArt® clinical trials. This investment, made through the Global Health Sciences (GHS) fund, was led by a global ophthalmology industry leader and CRCP alongside new and existing shareholders BPC, Diamond BioFund, Rimonci, Pontifax and Triventures.
Quark Venture’s investment in EyeYon Medical will enable the corneal healing solutions provider to accelerate its EndoArt® clinical trials in three geographies: USA, China and Europe. This will help advance necessary approvals and clearances from regional regulatory bodies. In turn, more anterior chamber surgeons will be able to perform much-needed procedures and reduce corneal transplant patient waiting times. Quark is also pleased to announce that Dr. Neena Kadaba, PhD, Director of Science at Quark Venture was appointed as one of the new members of the EyeYon Medical Board of Directors.
Karimah es Sabar, Quark Venture CEO and Partner said, “As EyeYon Medical embarks on pivotal studies to address an unmet need in the field of corneal disease, Quark Venture is pleased to support them. EyeYon Medical’s technology has the potential to reverse vision loss and improve the quality of life for millions of patients worldwide.”
Nahum Ferera, EyeYon Medical’s co-founder and CEO said, “The overwhelming enthusiasm to participate in the latest round reflects the vast clinical challenge and huge market opportunity our disruptive technology addresses. For nearly a decade, with leading academic partners, we’ve developed EndoArt®, and then generated high quality first in human clinical evidence to validate its safety. The additional funds, and the significant support we are receiving from our strategic investor, solidify Eye-Yon Medical as a global leader in the space of synthetic cornea endothelial graft to create new type of corneal availability.”
About Quark Venture LP
Quark Venture LP is a global venture capital company, headquartered in Vancouver, British Columbia, Canada, with a health investment portfolio, focused on equity financing of innovative life science companies with breakthrough discovery and innovation. Led by outstanding scientific and business teams, our strategic goal is to identify early and mid-stage stage companies, support their growth and the development of innovative health solutions.
For information about Quark Venture and its innovative health enterprise portfolio, please visit www.quarkventure.com.
About Global Health Sciences Fund
Global Health Sciences [GHS] Fund is a joint venture between Quark Venture LP and GF Securities established in 2016. The Fund is a diversified health sciences focused fund investing globally in innovative biotechnology and health technology companies addressing unmet medical needs through innovations in drug development, medical devices, digital health, big data/AI in health and emerging convergent technologies.
About EyeYon Medical
EyeYon Medical (https://eye-yon.com/) is a start-up company developing a variety of ophthalmic products for vision-threatening conditions. EyeYon’s flagship product is an Artificial Endothelial Layer – EndoArt® – a synthetic implant, attached to the posterior corneal surface, to treat chronic corneal edema secondary to endothelial dysfunction. A nonfunctioning endothelium results in corneal homeostasis loss due to excess fluid flowing into the cornea, resulting in severe vision loss. The minimally invasive, EndoArt® is designed to replace dysfunctional endothelium to cure corneal Edema, suggesting, a safer, simpler solution that will be available to anyone, anywhere. The FDA approved product, the Hyper CL™ is a unique contact lens that acts as a premium therapeutic contact lens for a variety of corneal pathologies.