January 23, 2012

Sillicon Valley Business Journal

PowerVision raises $37.2M to date with new funds

PowerVision Inc. sold equity to raise $12.5 million, according to a regulatory filing with the U.S. Securities and Exchange Commission from December. The company has now raised about $37.2 million to date.

On Monday, the company formally announced the funding and said it has added Johnson & Johnson Development Corp.    .Johnson & Johnson Development Corp. Latest from The Business Journals Life Sciences CEO of the Year: PlatinumMountain View's NeuroPace raises MNevro gets M for chronic pain relief study Follow this company ., the venture capital subsidiary of Johnson & Johnson, as an investor. Existing investors Palo Alto-based Venrock    .Venrock Latest from The Business Journals PowerVision gets .2M to date with new fundsHome Depot acquires Redbeacon home service referral businessHome Depot buys Redbeacon home service referral business Follow this company ., Advanced Technology Ventures    .Advanced Technology Ventures Latest from The Business Journals PowerVision gets .2M to date with new fundsAcceleron Pharma raises M strategic financingCatabasis raises VC for hypertriglyceridemia treatment Follow this company ., and Menlo Park-based Frazier Healthcare Ventures    .Frazier Healthcare Ventures Latest from The Business Journals PowerVision gets .2M to date with new fundsRempex Pharmaceuticals raises millionOne-on-one with former Merck strategy chief Merv Turner on the BioExec Institute Follow this company .also participated in the round.

The private, venture-backed company is based in Belmont. The medical devices and equipment company specializes in intraocular lens implants and was founded in 2002 by Matthew Frinzi.

It plans to use the funds for ongoing R&D and clinical trials aimed at achieving regulatory clearance to market its technology in Europe.

Other major investors include Panorama Capital    .Panorama Capital Latest from The Business Journals One-on-One with Dan Adelman of Alvine PharmaceuticalsZoove gets M to connect brands with phones Zoove picks up M in fourth round Follow this company .and Medtronic Inc.    .Medtronic Inc. Latest from The Business Journals Cole Real Estate Investments spent .5B in 2011Tennessee annouces trade mission to China, South KoreaSt. Jude stops clinical trial that was going too well Follow this company .