Ivantis raises $25m in Series C to support Hydrus microstent

Ivantis said today it raised $25 million in a Series C round of financing to support its Hydrus microstent device designed for treating glaucoma. The round was led by newly invested RA Capital Management and joined by new investor Mérieux Développement and existing investors. Money raised will extend Irvine, Calif.-based Ivantis’ runway into 2020 and help support US commercialization of the Hydrus Microstent upon receiving FDA approval, which the company expects to receive in 2018. “We are pleased to complete this financing, which we expect will fund Ivantis well beyond the Hydrus microstent launch, and at the same time we warmly welcome RA Capital Management and Merieux Developpement to our multinational syndicate of valued investors. With well-earned reputations for deep diligence and a commitment to their portfolio companies, we couldn’t ask for better partners for this next exciting stage of our company’s evolution,” Ivantis CEO & prez Dave Van Meter said in a prepared statement. The Hydrus microstent is designed for minimally invasive microsurgical procedures to reduce eye pressure in patients with glaucoma. The device is multi-modal, the company said, by creating a large opening through the trabecular meshwork and dilating and scaffolding the conventional pathway through which fluid exits the eye. “Having mapped out every glaucoma treatment technology in the world, we had long suspected that Ivantis was on the verge of a tremend...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Optical/Ophthalmic Ivantis Source Type: news