Financing Completed, Vision Sciences Says

Vision Sciences Inc. of Monrovia said it completed a second round of venture capital financing.

The company received $1 million out of the total financing of $1.5 million. The remaining $500,000, if required, will be available when Vision Sciences reaches budget targets.

The company said the financing will be used for working capital for the introduction of a new line of Formalens office lens-casting systems.

Vision Sciences said the investment was in the form of 1.33 million shares of series B convertible preferred stock, issued at 75 cents a share.