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Saturday / February 29.
HomeminewsMark’ennovy Completes Growth Funding

Mark’ennovy Completes Growth Funding

Mark’ennovy, a developer of premium daily and monthly soft contact lenses, has completed a significant debt and equity funding package that will enable acceleration of product development.

London based investor Bond Capital Partners has acquired a notable interest in the Group. In parallel, additional debt finance was provided by Alantra, a global mid-market investment banking and asset management firm.

The arrangements follow the successful launch of Versa One Day Toric, Mark’ennovy’s first endeavour into daily disposable contact lenses. Versa provides practitioners with a wider range of cylinders, spheres and axes in the increasingly pre-dominant daily disposable lens market. This will better serve a larger contact lens wearer population that would otherwise be required to wear monthly disposable contact lenses.

With a significantly wider range of materials, geometries and parameters we will provide access to contact lens wear that previously was unavailable

Additionally, Mark’ennovy has signed a worldwide exclusive licensing agreement with Brien Holden Vision Institute to bring to market a portfolio of new design soft contact lenses. The Extended Depth of Focus Design silicone hydrogel soft lenses are specifically targeted to address myopia control and presbyopia.

Speaking of the arrangement, George Sarrouf, Chairman, CEO and majority shareholder of Mark’ennovy said, “This newly founded alliance allows us to accelerate new product development focused on an almost infinite choice of daily and monthly soft contact lenses. With a significantly wider range of materials, geometries and parameters we will provide access to contact lens wear that previously was unavailable.”

Mark Opzoomer CEO of Bond Capital Partners, which has previously invested in the European eye care industry said, “Mark’ennovy has a powerful, but understated position in the market. The company has the potential to provide practitioners with a unique product range disrupting the ‘one size fits all’ mentality to one which provides precision based solutions.”