iSTAR Medical SA, a Wavre, Belgium-based private medical device company developing novel ophthalmic implants for the treatment of glaucoma, closed a €10m Series B equity financing.
Backers included existing shareholders Capricorn Venture Partners and Walloon Region Investment Fund (SRIW) and new investors Belgian Federal Investment Fund (SFPI-FPIM), Fond Européen des Matériaux, Start-Up and other private investors.
Led by Michel Vanbrabrant, CEO, iSTAR Medical leverages proprietary (STAR®) material to advance developing a pipeline of devices to treat glaucoma.
STARflo, its first generation device, and MINIject, designed to significantly reduce intra-ocular pressure (IOP) by enhancing aqueous humour outflow from the anterior chamber to the suprachoroidal space.
The company intends to use the funds to complete MINIject product development and fund its European CE-Marking clinical study.