Undisclosed Investors Invest $18 Million Venture Funding Round for Retina Implant, AG

Based in Reutlingen, Germany, Retina Implant, AG is an innovative medical device company which has developed sub-retinal implants to help visually impaired people improve their sight. The company announced on March 2, 2011, that it has secured $18 million USD in second round of funding from its existing investors, who are not disclosed to the public.

The company develops revolutionary technologies that can help the visually impaired regain their sight. The company’s goal is to develop retinal implants that can even help the blind see for the first time in their lives.

Proceeds from this funding round will go to help the company expand its market and help develop its retinal chip into the commercialization phase. Currently, the chip implant is undergoing its second human clinical trial phase and is reporting to be successful. The retinal microchip has been proven to be very helpful to people who have been blinded by various retinal ailments which have previously not been curable, such as retinitis and pigmentosa.

According to Retinal Implant’s corporate website, which is in German, in Germany alone, there are over 130,000 blind. The company further reports on its website that one-fourth of these people have been blinded by one form of retinitis or another. As of today, there has not been any proven technology which could provide useful vision to people who have been blinded by retinitis or pigmentosa. The goal of Retina Implant, AG is to change that and bring the sight back to many people who have suffered from these devastating diseases. The technology that Retina Implant, AG is developing can also help people who are suffering from another serious blinding disease that affects many people — macular degeneration.

As far as approval for clinical use in the EU, the Retinal Implant’s revolutionary technology has received high marks for the CE mark, which is the testing company that shows approval within the European Union. The company is also looking into expanding its technology into other markets, with another clinical human trial going on for approval in the United Kingdom.

This amazingly large round of funding comes on the heals of a bumper profit year for Retinal Implant, AG. During 2010, the company has experienced record growth and innovation in its retinal implant microchip technology. The company has not just kept this amazing technology only in Germany. The retinal microchip was also named as one of the top ten of the best new medical technologies and devices listed by the online medical publication MedTech. That’s not all, however. In 2010, the company has also started its second human clinical trials and the results of the first human clinical trials were published and have shown to have highly positive effects.

Retinal Implant, AG was funded in 2003 with originally receiving grants from the German government and has grown to a large corporation with a promising technology. The company’s founder is Dr. Eberhard Zrenner, who has devoted his career to helping people blinded by retinal disease to regain useful vision.