Ivantis develops the Hydrus Microstent, a microinvasive glaucoma surgery device placed via a minimally invasive microsurgical procedure to reestablish the eye's natural outflow pathway. The device is being used internationally in both cataract surgeries and standalone glaucoma procedures. A US pivotal trial is evaluating Hydrus in glaucoma patients undergoing cataract surgery. The company is led by President and CEO Dave Van Meter. Ivantis closed a $25M Series C and intends to use the proceeds to fund US commercialization of the Hydrus Microstent upon its anticipated 2018 FDA approval. The company is based in Irvine, California. Ivantis develops the Hydrus Microstent, a tiny implant placed via a minimally invasive microsurgical procedure to reduce intraocular pressure in glaucoma patients. The Hydrus device creates a large opening through the trabecular meshwork and dilates and scaffolds Schlemm’s canal to restore natural outflow. Hydrus is being evaluated in multiple ongoing clinical trials, including a U.S. pivotal approval trial that is assessing use during cataract surgery; the device is used internationally in both cataract and standalone glaucoma surgery. The company says over 20% of patients undergoing cataract surgery have concurrent glaucoma, representing a significant potential patient population. Ivantis is privately held, was established in 2007, and is based in Irvine, California. The company announced a Series B financing that it says will support its clinical and operational goals and is expected to take the company through U.S. approval. Ivantis's core product is the Hydrus Microstent, a tiny implant placed via a minimally invasive microsurgical procedure to reestablish natural aqueous outflow and lower eye pressure. The device uses a two-fold mechanism: creating an opening through the trabecular meshwork and dilating/scaffolding Schlemm’s canal. Ivantis is conducting three large ongoing clinical trials, including a US pivotal trial that recently received FDA approval to expand from its initial safety phase. The company presented two-year international trial data for Hydrus at the American Academy of Ophthalmology. The funds from the Series B will support completion of these trials and could take the company through US approval. The article notes potential market scale: roughly 700,000 US cataract patients annually may be candidates for the investigational treatment, and global cataract surgery volumes are estimated by WHO to reach 32 million by 2020. Ivantis designs, develops and commercializes the Hydrus Microstent, a tiny implant placed via minimally invasive microsurgery to reestablish natural outflow and lower intraocular pressure in glaucoma patients. The Hydrus relies on a two‑fold mechanism: creating an opening through the trabecular meshwork and dilating/scaffolding Schlemm’s canal. The device is used both in cataract surgery and standalone glaucoma procedures internationally, and the company recently received approval to market Hydrus in Australia. Ivantis plans to use the new funds to support three multinational randomized clinical trials, including its U.S. pivotal trial, and to establish activity in the Asia Pacific region. Investors named in the article include New Enterprise Associates, Delphi Ventures, Ascension Health Ventures, MemorialCare Innovation Fund and new investor EDBI. Ivantis was established in 2007 and is headquartered in Irvine, Calif. Ivantis is a privately held ophthalmic device company (established in 2007 in Irvine, Calif.) that develops the Hydrus Microstent to treat glaucoma. The Hydrus Microstent, roughly the size of an eyelash, is implanted via a minimally invasive microsurgical procedure to reduce eye pressure by creating a large opening through the trabecular meshwork and dilating and scaffolding Schlemm’s canal. In the U.S. approval trial the device is being evaluated in glaucoma patients undergoing cataract surgery, while internationally it is used both in cataract surgery and standalone glaucoma surgery. Ivantis has surpassed 50% enrollment in the HYDRUS III international randomized multi-center trial, the first head-to-head comparison of Hydrus versus the iStent. The company completed a $27 million first closing of its Series B led by Ascension Health Ventures to support four randomized, prospective, controlled multi-center trials around the world, including the ongoing U.S. trial. Investors include returning backers New Enterprise Associates and Delphi Ventures, and new investors such as MemorialCare Innovation Fund. Ivantis highlights the potential socioeconomic impact of reducing reliance on glaucoma medications, citing U.S. medication costs near $3 billion annually and roughly 50% patient noncompliance.

Total raised

$113M

Funding rounds

6

Latest round

Series C

Latest activity

Jan 2017