Wuxi Vision Pro Ltd. has completed B round financing of RMB 80 million from QIMING Venture, etc. to accelerate "Domestic Era" in the treatment of cataracts in China
SHANGHAI, May 4, 2018 /PRNewswire/ -- On April 26, 2018, Wuxi Vision Pro Ltd., an ophthalmic medical device manufacturer in China, announced that it had completed B round financing of RMB 80 million. The investors are QIMING Venture Partners and Ruijian Capital.
Dr. Liao Xiugao, founder of Wuxi Vision Pro Ltd., said: "With modern science and technology drastically changing human behaviors, excessive use of the human eyes has accelerated the aging of eyes and developing other eye disease among young people. These factors promote the need of rapid development of ophthalmic medical products. My company commits to researching and developing high-quality ophthalmic products and create a leading brand to meet the growing demand."
The cataract surgery market has huge room for growth. The number of potential cataract patients over 60 years old in China is estimated at 130 million. Cataract surgery today in China has a 20% growth rate per year. The cataract surgery rate (CSR) per million will reach more than 3,500 in 2020. Driven by strong market demand, the innovative ability and production of domestic intraocular lenses have been comparable to the ones of the high priced imported brands.
Wuxi Vision Pro Ltd. has its own lens materials development and manufacturing facility in Irvine, California, USA. Its products have been used by many manufacturers worldwide. LEIMING brand aspheric intraocular lenses has obtained CFDA approval and CE certificate. The aspheric IOLs are made with a high refractive index hydrophobic acrylic material which was researched and developed by Wuxi Vision Pro and has excellent biocompatibility proven by clinical trials.
Liang Yingyu, managing partner of QIMING Venture Partners said: "I'm so glad to see Vision Pro Ltd. is growing rapidly. With LEIMING aspheric IOLs successfully passing clinical trials and being put into the market, I am very optimistic about the future of the company and have committed to investing in the outstanding enterprise. I am confident in the ability of R&D and innovation shown by the Vision Pro Ltd. management team. I hope that LEIMING will become a leading brand in China and will expand to international markets through cooperation with QIMING Venture Partners".
About Wuxi Vision Pro Ltd
Wuxi Vision Pro Ltd. was founded in 2010. It continues to focus on research and development, production, and marketing of intraocular lenses. It hopes to provide high-quality products and create a well-known brand to treat ophthalmic patients. It has strong research and development ability. Team members include material scientists, ophthalmologists, optical and mechanical engineering experts, etc. The raw materials and products of intraocular lenses made by them are advanced in the world. Wuxi Vision Pro Ltd has filed many patent applications related to intraocular lenses worldwide, has received the production certificate of medical devices which is approved by CFDA and the management system certificate of ISO 13485, and has received the CFDA medical device registration certificate and the European Union CE certificate.
About Qiming Venture Partners
Founded in 2006, Qiming is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen and Hong Kong. In 2017, Qiming raised its first US fund and set up Qiming's US offices in Seattle, Boston and Palo Alto. Currently Qiming manages seven US Dollar funds and five RMB funds with US$4 billion assets under management.
Qiming strives to be the investor of choice for top entrepreneurs in China. Since our debut, we have backed over 250 young, fast-growing and innovative companies across China in the internet and consumer ("Intersumer"), healthcare, information technology and clean technology sectors. Over 50 of them are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange, and Shenzhen Stock Exchange or achieved exit through M&A. There are also nearly 20 portfolio companies that have been recognized as unicorns in the industry. And many of our portfolio companies are today's most influential brands in their respective sectors, including Xiaomi, Meituan-Dianping, TutorGroup (VIPABC), Meili Inc., Meitu, Bilibili, Tigermed , Gan & Lee, Zai Lab, Hexing, CSD, Tellgen, AmoyDx, Berry Genomics, HyperStrong, We Doctor Group, Face++, UBTech, Mobike and JingChi. Qiming consistently ranks among the top venture firms in terms of returns to its investors.