MacuLogix Raises $5 Million in Series C Financing
Funding supports nationwide sales of AdaptDx for the early detection of macular degeneration
Hummelstown, Pa., September 18, 2015 – MacuLogix®, Inc., a pioneer in the early detection and tracking of retinal diseases, today announced that it raised $5 million in a Series C round of financing. The funding will allow MacuLogix to continue expanding sales operations for the AdaptDx® dark adaptometer across the United States and initiate commercial distribution in Europe in 2016. To date, the Company has raised a total of $12.3 million in venture capital.
Fisk Ventures led the round, which closed in July, with participation by prior investors Roche Venture Fund, Life Sciences Greenhouse, and Berwind Private Equity. Stephen L. Rose, Managing Director of Fisk Ventures, has joined the Board of Directors of MacuLogix.
“This funding round marks an important milestone for MacuLogix as we broaden our promotional efforts beyond the targeted sales territories we’ve been focused on since the initial launch of AdaptDx in 2014. Now we have the opportunity to change the diagnostic paradigm for age-related macular degeneration by equipping eye care professionals with the technology to detect functional impairment at its earliest stages, enabling them to better monitor and manage the growing number of patients with this disease in their care,” said John G. Edwards, CEO of MacuLogix. “As we initiate full commercialization in the United States and Europe, we are grateful for the continued support of our previous investors and pleased to welcome Fisk Ventures as an investor and advisor.”
MacuLogix, Inc. is a pioneer in the early detection and tracking of retinal diseases. The Company’s AdaptDx is the first practical measurement tool for dark adaptation. Dark adaptation is known to be substantially impaired in degenerative diseases of the macula such as age-related macular degeneration (AMD) and inherited macular dystrophies. Based on significant technical advances, the AdaptDx provides doctors with an easy-to-use functional test for macular degeneration similar to routine perimetry testing for glaucoma.