Transcend Medical, Inc., a Menlo Park, CA-based medical device company dedicated to the development of minimally invasive glaucoma interventions for the ophthalmic surgeon, closed a $22m Series C funding.
Existing investors (mag, Split Rock Partners, Canaan Partners, Investor Growth Capital, Technology Partners, HLM Venture Partners, Latterell Venture Partners, Kaiser Permanente Ventures, Finistere Ventures) and an undisclosed global pharmaceutical and medical device company participated in the round.
The company intends to use the funds to complete the US-based, randomized, controlled COMPASS pivotal trial evaluating the CyPass® Micro-Stent, a micro-invasive glaucoma implant. The period for the trial is scheduled to complete in the second quarter of 2015.
Led by Brian Walsh, President and Chief Executive Officer, Transcend Medical is developing the CyPass Micro-Stent, a micro-invasive glaucoma stent designed to reduce intraocular pressure (IOP) by enhancing aqueous outflow to the suprachoroidal space.
The CyPass Micro-Stent has received the CE Mark and is currently only for investigational use in the U.S.
15/07/2011: TRANSCEND MEDICAL INC. HOLDS SECOND CLOSE OF 51M SERIES B FINANCING