Ivantis Inc., an Irvine, CA-based developer of a device designed to lower eye pressure for glaucoma patients, closed a $25m Series C financing.
The round was led by new investor RA Capital Management, with participation from new investor Mérieux Développement, as well as existing investors.
The company intends to use the funds for US commercialization of the Hydrus Microstent upon its anticipated 2018 US Food and Drug Administration (FDA) Approval.
Led by Dave Van Meter, President and CEO, Ivantis develops the The Hydrus Microstent, a Microinvasive Glaucoma Surgery device that is placed through a minimally invasive, microsurgical procedure to reduce eye pressure by reestablishing the patient’s natural outflow pathway.
While the current US pivotal trial is evaluating Hydrus Microstent in glaucoma patients who are undergoing cataract surgery, the device is being used both in cataract surgery and in standalone glaucoma surgery internationally.