OphthoCare get FDA OK for US marketing

The company has developed electronic eyeglasses for treating lazy eye syndrome in children.

OphthoCare, which develops electronic eyeglasses for treating lazy eye syndrome (amblyopia) in children, today obtained US Food and Drug Administration (FDA) approval to market its products in the US.

CEO Rafi Herzog and medical advisor David Ben Ezra founded OpthoCare, which has raised NIS 2 million from the Maayan Technology Ventures (formerly the Initiative Center of the Negev) incubator. The company recently graduated from Maayan Technology, and is now looking for a $600,00 investment to market its products: initially in the US, then around the world.

Maayan Technology managing director Tsvika Ben-Porat said that OphthoCare had achieved all its objectives during its incubation period. He predicted that the company would reach $20 million in sales and make a large profit within three years. The company plans to launch its product in early 2006.

Published by Globes [online] - www.globes.co.il - on July 6, 2005

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