Foley Represents AXA IM Alts as Lead Investor in $32M Series A Round in CXL Ophthalmics

Foley & Lardner LLP represented AXA IM Alts, a global leader in alternative investments, as the lead investor in the $32 million Series A funding round for CXL Ophthalmics, Inc. (CXLO), a clinical-stage company developing a minimally-invasive treatment for keratoconus. The new investments will support the advancement of CXLO’s transformative cross-linking system, EpiSmart, through Phase 3 trials on the way to a New Drug Application with FDA.

EpiSmart is CXLO’s transformative cross-linking system targeting keratoconus, a common type of corneal ectasia. EpiSmart is designed to be highly effective and minimally invasive with reduced discomfort, plus a decreased recovery time versus the current standard of care. CXLO’s approach will elevate the standard of care for keratoconus by simultaneously enabling the treatment of both eyes and eliminating the need for further deterioration.

Results of CXLO’s recent Phase 2 trial, the largest study to date of corneal cross-linking as a treatment for keratoconus, indicate improvements in visual acuity after EpiSmart treatment at levels similar to currently available treatments, but with a substantial enhancement in safety and comfort compared to the current standard of care.

The Foley team representing AXA IM Alts was led by Partner Julie-Anne Lutfi and included Associates Justin Lauria-Banta and Graham MacEwan.

About Foley & Lardner LLP

Foley & Lardner LLP is a preeminent law firm that stands at the nexus of the energy, health care and life sciences, innovative technology, and manufacturing sectors. We look beyond the law to focus on the constantly evolving demands facing our clients and act as trusted business advisors to deliver creative, practical, and effective solutions. Our 1,100 lawyers across 25 offices worldwide partner on the full range of engagements from corporate counsel to IP work and litigation support, providing our clients with a one-team solution to all their needs. For nearly two centuries, Foley has maintained its commitment to the highest level of innovative legal services and to the stewardship of our people, firm, clients, and the communities we serve.