20/10 Perfect Vision AG (Germany) - Oct 2007

unquote
01 October 2007

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Investors

London-based NBGI Ventures has led a €13.5m financing round in German laser vision care specialist 20/10 Perfect Vision. IBG Beteiligungsgesellschaft mbH Sachsen-Anhalt co-invested as well as existing investors Innoven Partenaires and Entrepreneurs Fund.

The new capital will enable the company to accelerate the market penetration of its FEMTEC® femtosecond laser workstation unit for corneal surgery recently introduced to the international markets.

Previously, the company received financing from Triangle Venture Capital and Gold-Zack in 2000, followed by a €5.7m second round of expansion financing (January 2002, page 27). Triangle then partially realised its investment with the sale of the WaveScan division to US-based VISX Inc (May 2003, page 34). Before wholly exiting its investment in June 2006 to an undisclosed secondaries investor (July/August 2006, page 34), Triangle invested €4.1m in 2005 (October 2005, page 23). Paris-based Innoven Partenaires invested €4m in July 2006.

Company

Heidelberg-based 20/10 Perfect Vision develops, manufactures and markets innovative technologies for refractive surgery. The company’s FEMTEC femtosecond laser workstation is set to revolutionise the ophthalmic surgery market, while keeping ease-of-use and patient safety as primary objectives. In January 1999, Dr Frieder Loesel and Prof Dr Josef Bille founded 20/10 Perfect Vision. Both founders are well known as key innovators in the field of ultrashort pulse laser surgery.

People

Christian Sarwa and Sabine Madaus represented NBGI and IBG respectively and both will join the company’s supervisory board. Dr Frieder Loesel is the General Manager and Prof Dr Josef Bille is a member of the board of 20/10 Perfect Vision.

Advisers

Company - BioConnect, (Financial Due Diligence)Company - Greenfort, (Legal)Equity - Weitnauer, (Legal)

Sourced from: Deutsche unquote" 93 (Nov 2007)