The eye disease device developer has raised series B funding to advance research originating from University of Colorado's s Sue Anschutz-Rodgers Eye Center.

SpyGlass Ophthalmics, a US-based eye disease treatment device developer spun out of University of Colorado’s Anschutz Medical Campus, has closed a $27.5m series B round led by Vensana Capital.

The round also included New Enterprise Associates (NEA), which previously invested $6m of series A funding in SpyGlass in May 2019.

SpyGlass Ophthalmics is working on a medical device platform to address chronic eye diseases through procedures such as lens replacement surgery. The cash will help refine its platform as it aims to bring projects, for indications such as cataracts, into the clinic.

Cynthia Yee and Kirk Nielsen, principal and managing partner at Vensana Capital respectively, have both joined the board of directors. Tak Cheung, principal at NEA, has been promoted from observer to director.

SpyGlass’s founding president is Malik Kahook, a professor of ophthalmology at CU Anschutz Medical Campus.

Kahook  said: “We believe our approach represents a paradigm shift in the treatment of eye diseases with significant advantages compared to currently commercialised therapies.”