Norlase has received $11 million in funding to accelerate production of the Norlase ECHO laser

Norlase, a Danish company developing next-generation ophthalmic laser solutions, has received $11 million in funding from London-based company West Hill Capital to accelerate its ECHO laser production.

The funding comes on the heels of FDA approval and CE mark approval for the company's most advanced product to date, the ECHO Pattern laser.

This will allow the company to accelerate production of its ECHO pattern laser, as well as other cutting-edge laser therapy solutions, Norlase said.

CEO and co-founder Oliver Hvidt said the company brought three revolutionary laser solutions to market in four years.

"With the launch of ECHO, we are starting a new chapter in patterned laser products," he said.

"This incredible technology simplifies today's large 100-pound devices into devices that can be held in the palm of your hand and easily connected to existing slit lamps. This is the convenient and affordable patterned laser that the market has been waiting for."

Hvidt said the launch of the ECHO in the US and Europe, coupled with growing demand for its LION laser indirect ophthalmoscope and LEAF single-point laser, meant the company needed to significantly expand its production and global market share.

"We are excited about the challenge and thank our investors for their support," he said.

Norlase said the new ECHO pattern laser was adopted by several top retinal specialists in the United States immediately after the product was launched.

The company said it needed to significantly increase capacity at its production facilities in Denmark to meet demand as the product was rolled out in the US and Europe.

"The new funding will address this issue and enable the company to continue to invest heavily in research and development to develop other solutions sought by ophthalmologists."

The company reports that its next big innovation is already in the pipeline.

In addition to the ECHO, Norlase's portfolio includes the ultra-portable LEAF single-point laser and the LION Laser indirect ophthalmoscope. These products provide solutions to the limitations of old prior art.

The lightweight lasers feature industry-first voice control, a user-friendly interface and a fiber-free design. Advanced technology and features in an ultra-compact package provide ophthalmologists with the therapeutic flexibility, reliability and efficiency they seek in their practice.

Norlase has a presence in most of the top 10 eye hospitals and teaching facilities in the United States, and is on track for its fourth consecutive year of more than 100 percent sales growth as its technology is rapidly adopted worldwide.

Source: Laser Net