RxSight developed the first and only lens that can be customized after cataract surgery.
ALEXANDRIA, Va. & ALISO VIEJO, Calif.–(BUSINESS WIRE)–Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $60 million senior secured term loan with RxSight, Inc. (“RxSight” or “the Company”), a privately-held, medical technology company that has commercialized the world’s first and only FDA-approved adjustable intraocular lens (“IOL”) that is customized after cataract surgery. The funds will be used for general working capital, including sales and marketing, and research and development.
The Company’s mission is to revolutionize the premium cataract surgery experience by allowing surgeons to partner with their patients to achieve optimized results for every unique eye. The RxSight® Light Adjustable Lens™ delivers superior visual outcomes—patients can now customize their vision after cataract surgery until it meets their personal desires and lifestyle requirements. This optimization is performed by an eye doctor after lens implantation through a series of office-based light treatment procedures that take only a few minutes each.
“RxSight’s proprietary Light Adjustable Lens offers an invaluable advancement in the cataract surgery market,” said Christopher A. Herr, senior managing director at Oxford Finance. “Oxford is happy to provide capital to support the Company’s innovative approach that enables optimization of vision specific to a patient’s needs.”
Today, approximately 100 leading US surgeons are using the Light Adjustable Lens to deliver outstanding customized vision for their cataract patients. “We are delighted to have partnered with Oxford Finance for additional funding to fuel continued commercial expansion and technology innovations for the premium cataract surgery market,” said Shelley Thunen, chief financial officer at RxSight.
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
About RxSight, Inc.
RxSight®, Inc., Aliso Viejo, CA is a privately-held, medical technology company focused on the development and commercialization of the world’s first and only adjustable intraocular lens (“IOL”). The RxSight IOL allows optimization of a patient’s vision after lens implantation and healing, using RxSight’s proprietary Light Delivery Device to precisely reshape the implanted lens and achieve a custom prescription for optimal vision outcomes.
Additional information about RxSight can be found at www.rxsight.com.