Ivantis completion of financing novel glaucoma procedure

February 15, 2013

Ivantis announced the completion of financing $27 million for a novel glaucoma procedure at the Glaucoma Research Foundation's latest meeting.

Ivantis announced the completion of financing $27 million for a novel glaucoma procedure at the Glaucoma Research Foundation's latest meeting.

The funding will support four international, randomized, prospective, controlled multi-centre trials, including an ongoing United States trial.

The Series B funding round, led by Ascension Health Ventures (AHV), included returning investors New Enterprise Associates (NEA) and Delphi Ventures, along with new investors MemorialCare Innovation Fund.

Dr Tara Butler, Investment Director at AHV, commented, "AHV is pleased to lead Ivantis’s latest round of financing. As a disease, glaucoma is already one of the most vexing issues in our healthcare system today, and its prevalence is projected to double in the U.S. by 2030. With over half of all glaucoma patients in the U.S. not taking their medications consistently, if at all, this poses not only a medical challenge, but also a socioeconomic burden."

"This investment decision was driven by high-calibre clinical data, a strong intellectual property position and obvious clinician conviction for the promise of this technology," she added, "Our limited partners’ expertise as leading healthcare providers, coupled with Ivantis’s premier technology and outstanding leadership team, made this a highly attractive and synergistic investment opportunity for us."