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CorNeat Vision raises $4 million from Israeli-Chinese GIBF fund

The Israeli medtech startup has developed a synthetic cornea that operates by inserting artificial optics under the membrane that covers the white of the eyes

Hagar Ravet and Meir Orbach 11:5325.08.21

Israel-based startup CorNeat Vision has raised $4 million from the Guangzhou Sino-Israel Biotech Investment Fund (GIBF). The money will be invested in CorNeat's Chinese subsidiary that has been set up in Guangzhou. The goal of the investment is to expand CorNeat's activity in the Chinese market, including clinical trials, setting up a manufacturing facility, and marketing the company's first two products.

CorNeat, founded in 2015 by Gilad Litvin and Almog Aley-Raz, develops a synthetic cornea that operates by inserting artificial optics under the membrane that covers the white of the eyes. Nanoscale chemical engineering is then used to stimulate cell growth and promote the implant's integration into the tissue. The procedure takes around 30 minutes, compared to routine cornea transplant surgeries that take around 1-2 hours.

CorNeat Vision product animation. Photo: CorNeat Vision

There are over five million blind people in China suffering from cornea issues, but only 5,000-8,000 cornea transplant surgeries take place in the country annually.