Life Sciences Greenhouse Investments Announces Funding for Avisi Technologies
Firm Is Developing a Novel Nanotechnology-enabled Device for Treatment of Glaucoma
Harrisburg, PA – January 23, 2023. Life Sciences Greenhouse Investments (www.LSGPA.com) announced today a 4Q 2022 investment of $500,000 into Avisi Technologies, which aims to treat primary open-angle glaucoma (POAG) with an ocular implant that’s designed to remove excess fluid from inside the eye. POAG is the most common type of glaucoma, accounting for 80-90% of cases.
The oversubscribed $4 million round was led by Accanto Partners. Other participants included Ben Franklin Technology Partners, Quaker Capital, Good Growth Capital, Mountain State Capital, Life Science Angels, and Gaingels. The raise will help to expedite clinical development of VisiPlate® and enable additional R&D, said Rui Jing Jiang, Avisi Founder and CEO.
About Life Sciences Greenhouse Investments
Life Sciences Greenhouse Investments provides funding and targeted business advice to help startup life science companies bring life-changing technologies to market. By enhancing the viability of innovative technologies that advance patient care, and fostering company growth and job creation, LSG Investments is strengthening Pennsylvania’s vibrant life sciences ecosystem and improving healthcare outcomes for patients around the world.
Since LSG Investments was founded in 2002 as Life Sciences Greenhouse of Central PA, the evergreen venture fund has invested $37 million into 72 companies and projects that collectively have created and retained 8,500 direct and indirect jobs in the Commonwealth. Today, more than 152 products developed by LSG Investment-funded companies are currently marketed or in development.
About Avisi
Avisi is a medical device company developing VisiPlate, a nanotechnology-enabled ocular implant for treating glaucoma. Open-angle glaucoma (OAG) is the leading cause of irreversible blindness in the world and has no cure. In OAG, excess aqueous humor fluid builds up inside the eye, putting pressure on and permanently damaging the optic nerve. OAG affects 4 million people in the U.S. and over 140 million people globally.
Avisi Technologies is a Johnson & Johnson JLABS incubated company, a MedTech Innovator Accelerator company, a UCSF Rosenman Innovator, and a recipient of the University of Pennsylvania President’s Innovation Prize. Avisi has been recognized as one of ten most promising Philadelphia tech companies of the decade by Technical.ly’s RealLIST Startups, a Watchlist venture in Wharton Magazine, and one of four finalists of the 2022 Fierce Life Sciences Innovation Awards, Medical Device Innovation category.
Learn more about Avisi Technologies and VisiPlate at www.avisitech.com
Contact:
Michele Washko
mwashko@LSGPA.com
717-514-0436
