GLSV invests in intelligent prosthesis for the blind

First-round funding

Global Life Science Ventures (GLSV) was lead investor in a €16 million second round financing of Intelligent Medical Implants AG (IMI), a Swiss company that is developing a retinal implant device for the blind. The round was co-led by Abingworth Management Ltd, with the participation of existing investors.

Stephen McCormack, Principal at GLSV, will become chairman of the supervisory board of IMI, which is based in Zug, with an R&D subsidiary, IIP-Technologies GmbH, in Bonn, Germany.

The company’s Intelligent Retinal Implant System (IRIS), aims to confer visual perception to blind people. Results of a clinical study presented earlier this year showed that the implant enabled people who are completely blind to see light and simple patterns via wireless data and energy transmission.

The technology is suitable for patients with degenerative diseases such as retinitis pigmentosa and macular degeneration. The new money will allow the company to expand clinical trials and further develop its technology.

Stephen McCormack commented, “Intelligent Medical Implants is the most advanced and promising technology of its kind and has the potential to restore vision to thousands of patients suffering from blindness due to degenerative diseases.”