Ivantis, an Irvine, California-based developer of a microstent device designed to lower eye pressure for glaucoma patients, raised $5m in the second close of its Series B financing.
This second close was led by EDBI of Singapore.
In January, Ivantis had held a $27m first close of its Series B led by new investor Ascension Health Ventures (read here).
The company intends to use the capital to fund three multinational randomized clinical trials, including the U.S. pivotal trial, as well as establishing activity in Asia Pacific while it has just received approval to market the Hydrus device in Australia.
Established in 2007 and led by Dave Van Meter, President and CEO, Ivantis designs, develops and commercializes new technologies to treat eye disease. Its Hydrus Microstent is placed through a minimally invasive, microsurgical procedure to reduce eye pressure by reestablishing the patient’s natural outflow pathway.
Investors in the company include New Enterprise Associates, Delphi Ventures, Ascension Health Ventures, and MemorialCare Innovation Fund.