The Venture Codex

Participated · Series B · Mar 2025

Character Biosciences integrates genomics, longitudinal clinical datasets, and AI-driven modeling to pinpoint disease drivers and create precision therapeutics for progressive polygenic disorders, beginning with ophthalmology. Its pipeline is led by CTX114, a complement inhibitor for geographic atrophy, and CTX203, a lipid modulator intended to halt progression to advanced AMD. The company is also advancing programs for primary open-angle glaucoma, seeking to address large unmet medical needs in vision care. Recent leadership hires—including a new CMO, Chief Data & Analytics Officer, Head of Clinical Network and Longitudinal Research, and Head of People—strengthen its clinical and data capabilities. Character Bio positions its unique patient data platform as a competitive advantage to improve drug-development success rates. Financially, the firm has secured more than $110 million in Series B funding, providing capital to move its first therapeutic programs toward the clinic.

Participated · Equity · Nov 2011

AcuFocus, founded in 2001 and based in Irvine, CA, develops and markets small-aperture technologies to improve near vision. Its flagship product is the KAMRA corneal inlay, which underwent a controlled commercial launch in the U.S., and its second product, the IC-8 intraocular lens, received CE Mark approval. Both technologies utilize the small aperture effect to treat presbyopia and cataracts. The company is led by Al Waterhouse, President and Chief Operating Officer. AcuFocus raised $66m in financing to accelerate commercialization plans for the KAMRA inlay and IC-8 lens. It also intends to use proceeds to advance research and development projects that leverage its small-aperture expertise. AcuFocus produces the Kamra eye inlay, a microscopically small implant that rests in the cornea and functions like a camera lens to expand a person’s range of vision. The inlay’s central aperture admits light to the back of the eye, while 8,400 microscopic openings around the aperture allow oxygen and nutrients to flow through the cornea to maintain corneal health. The Kamra inlay landed CE Mark approval in 2014 after the company raised $21 million, and it received U.S. approval in 2015. The device is currently commercially available. According to a regulatory filing, AcuFocus has announced a $4.1 million round of debt funding. The company is backed by HealthCare Royalty Partners, SV Life Sciences, Versant Ventures, Carlyle Group, Accuitive Medical Ventures and Medtronic. AcuFocus develops the KAMRA corneal inlay, an intrastromal device designed to create a small-aperture effect that improves near and intermediate vision while maintaining distance vision. The KAMRA inlay has a CE mark and is available in select markets across Europe, Asia‑Pacific, the Middle East and South America, while remaining an investigational device in the United States. More than 7,000 KAMRA inlays have been implanted worldwide. The company is privately held, was founded in 2001 by the Innovation Factory, and is based in Irvine, California. AcuFocus plans to submit to the FDA in early 2012 and aims to expand commercially into new and existing global markets. The company cites strong clinical trial data and surgeon support as drivers of its planned expansion.