Italian - American Allotex Secures 30m$ Funding for Allogeneic Presbyopia Inlays Boston, MA – Milan, July 9th, 2023

Italian - American Allotex Secures 30m$ Funding for Allogeneic Presbyopia Inlays

Boston, MA – Milan, Italy – July 9, 2023 – Allotex Inc. and SpA, a privately held clinical-stage medical technology group today announced the first close of its $30M Series B financing to support the further development of its groundbreaking technology for the treatment of refractive errors.


The Series B preferred stock financing was led by KCK Medtech was joined by Panakes, Supernova Invest and Exor Ventures. The investment was driven by four-year data on presbyopia and hyperopia treatments, confirming significant improvement in visual acuity and the potential to dominate the surgical treatment market for presbyopia.


The new, seven minute procedure is performed in an outpatient setting and has demonstrated a dramatic five lines of improvement in near vision, with no reported impact on binocular distance vision.


This advancement could prove transformative for the 135 million emmetropes across the United States and the European Union, providing a quick and efficacious treatment option.


“As a surgeon, nothing is more rewarding than making a real, palpable difference in people’s lives, and Allotex’s tissue addition technology enables just that.” comments Prof. Aylin Kilic, principle investigator of the EU clinical trials.
The company has clearance to commercially launch its product, TransFormTM, in the European Market through its Italian group, and expects to begin sales in early 2024. In addition, the company anticipates that it will start FDA clinical trials at a number of sites across the US in 2024.


Commenting on the potential impact of tissue addition technology for the treatment of presbyopia, Dr Vance Thompson, the company’s Medical Monitor, remarks that “Allogeneic corneal inlay surgery overcomes the biocompatibility issues that troubled the synthetic corneal inlays and is a significant step forward for our patients suffering from presbyopia”.


For additional information about Allotex, visit www.allotex.com.


**About Allotex Inc.**
Allotex Inc., and SpA a Boston-Milan based medical company is focused on the use of corneal allogeneic tissue and committed to revolutionizing refractive surgical care. Co-founded by Drs. David Muller and Michael Mrochen, Allotex is at the forefront of developing novel solutions for presbyopia and hyperopia,
utilizing pioneering technology to improve patient outcomes. The company continues to attract top-tier investors as it advances its mission to provide groundbreaking solutions to millions around the world.


About KCK MedTech
KCK MedTech is an evergreen investment fund. The KCK Medtech team provides venture capital for emerging therapeutic medical technology companies. Our flexible capital and operationally experienced team enable us to help build significant intrinsic value in our portfolio.
www.kckmedtech.com


About Panakes Partners
Panakès Partners is the leading Italian Venture capital firm in the Life Sciences sector, which invests in the most ambitious companies and teams, developing revolutionary technologies and products. Panakès, founded in 2015 has ca. €250 million under management to date.
www.panakes.it.


About Supernova Invest
Supernova Invest is the leading deep tech Venture Capital firm in France, managing €600+ million AUM. The current portfolio includes 80+ impact startup companies that develop products and services leveraging breakthrough technologies in 4 transition-centric sectors: Health, Energy & Environment, Industry 4.0 and Digital Technology.
www.supernovainvest.com