The funding will support the launch of Revisyon, the Edinburgh-based company’s new technology as it approaches the final stages of market readiness and initiates commercial activities.
This latest round of funding follows £2 million raised from Innofield Biotechnology Ltd, a wholly owned subsidiary of Boye Biotech in 2023, as part of a licensing and equity investment deal.
Edinburgh Biosciences has recently completed clinical trials on Revisyon, which, in a world first, will allow cataract treatment to move from the operating theatre to the high street.
The new treatment, which can be delivered by an optometrist, will radically improve and shorten the care pathway for the millions of people awaiting cataract surgery each year.
Edinburgh Biosciences expects to receive the UKCA mark by the end of this year and will then bring Revisyon to market.
Speaking about the launch, CEO Graham Bell said, “We are at a really exciting stage as we prepare to launch Revisyon.
“This technology has the capability to transform our approach to cataract treatment. We have backers who support our vision and are equally excited about the global possibilities presented by Revisyon.”
Bell presented initial clinical trial findings at the LSX World Congress in London on 29th April. Trial results show that Revisyon improves visual acuity. Full clinical trial data is expected to be published over the summer.
The new treatment, initially conceived by Edinburgh Biosciences’ founder, Prof Desmond Smith OBE, is based on his vast body of work on light-based technologies. He discovered that lower power LED light had the ability to treat cataracts and started development of the new treatment.
After extensive research, the company discovered that light of a specific wavelength had the ability to reverse the build up of aggregates which causes the lens to become cloudy.
Prof Smith passed away in 2023 before seeing his invention come to fruition but his family and colleagues have continued his pioneering work which, to date, has seen the creation of a prototype and final model of the testing equipment, development of software, completion of clinical trials and preparation for regulatory submission as well as research amongst opticians and optometrists.
The professor’s daughter, Dr Nicky Abraham, has maintained a minority shareholding in the business. Speaking about her father’s legacy, she said, “The family is delighted that dad’s legacy will live on through Revisyon and the continued work of Edinburgh Biosciences.
“He was absolutely passionate about his work around fluorescence and light-based technologies and the ability to use them to diagnose and treat cataracts.
“It’s amazing to see his final project come to life.”