Arctic Vision, a Shanghai-based medtech startup which focuses on developing medicines and therapies for ophthalmic diseases, said on Wednesday that it has raised more than $100 million in its series B funding round led by Loyal Valley Capital.

Proceeds from the round, which was also joined by investors including Tencent, Octagon Capital and Morningside Ventures, will be earmarked for the registration and commercialization of its products, the establishment of its in-house R&D platforms as well as team expansion, Arctic Vision said in a WeChat post.

Two-year-old Arctic Vision said that it has three products currently in clinical trials which will be used to treat uveitic macular edema, pediatric progressive myopia and presbyopia respectively. The uveitic macular edema product gained investigative new drug approval from China’s National Medical Products Administration in late 2020, meaning that its phase 3 clinical trials will start later this year, according to the firm.

Besides the Chinese market, Arctic Vision is looking to expand overseas. CEO Eddy Wu said that his company will expand its focus to other countries in Asia, without giving further details.

Contact reporter Ding Yi (yiding@caixin.com)

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