- Dopavision has signed a deal regarding € 12 million Series A round for digital childhood myopia treatment.
- The proceeds are going to be used to fund the clinical development of MyopiaX.
- The product MyopiaX to be developed from these funds is meant to be Dopavision’s lead product in childhood myopia.
Berlin (Germany)-based digital therapeutics company, Dopavision has signed a € 12 million (equal to US $ 14 million 145 thousand 120) Series A financing round. The funds from this deal are meant to be used for developing Dopavision’s lead product for childhood myopia which has been named as MyopiaX.
As Seventure Partners lead the round, later it was joined by Novartis Pharmaceuticals, along with company’s existing shareholders, Ababax Health and Boehringer Ingelheim Venture Fund.
Dr Hamed Bahmani, co-founder and Managing Director (MD) of Dopavision told media that with new partners, the Series A round funding was complete. Observing that the extensive use of smartphones could worsen childhood myopia, his plan was to transform the use of digital devices into a beneficial therapeutic activity. He said that MyopiaX would be easy to use and offer an exciting user experience, promoting adherence to the therapy with the goal of addressing myopia at a young age. Bahmani acknowledged that myopia was a serious condition. Jill Hopkins, the global development head for ophthalmology at Novartis Pharmaceuticals, told media that Novartis was committed to advancing transformational treatments to visually impaired people of all age-groups. Such treatments included digital therapeutics.