LumiThera Secures Financing to Support Commercial Activities

SEATTLE, March 10, 2022 /PRNewswire/ — LumiThera Inc., a commercial stage medical device company offering photobiomodulation (PBM) treatment for ocular damage and disease, today announced the completion of a debt financing with Leste Clearway and Serengeti Asset Management.

The combined financing provides $5.5M of capital to support integration, growth, and commercial expansion of the LumiThera Valeda® Light Delivery System for the treatment for dry Age-related Macular Degeneration (AMD), and the Diopsys® Electroretinography (ERG) product line, an established diagnostic and monitoring system that measures the electrical activity of the retina of the eye in response to a light stimulus.

“We are very excited to work with both Leste Clearway and Serengeti,” stated Clark E. Tedford, Ph.D., President and CEO, LumiThera. “These debt partners have the potential to further support commercial expansion of LumiThera’s product lines without typical stockholder dilution and should position the company well for a future Series D round.

About Serengeti Asset Management

Serengeti Asset Management (www.serengeti-am.com) is a value driven credit focused investment firm that provides sophisticated financing solutions to innovative private companies and their shareholders. Serengeti has approximately $1.2B of assets under management.

About Leste Clearway

Clearway (www.lesteclearway.com) is an AI powered venture debt fund that uses proprietary technology to identify and underwrite emerging venture backed technology companies in the US and Canada. Leste group, which partly owns Clearway, has approximately $1.3B of assets under management as of September 2021.

Original Publication: https://www.prnewswire.com/news-releases/lumithera-secures-financing-to-support-commercial-activities-301499789.html?tc=eml_cleartime/