Hydrus Microstent approved in Australia

Ivantis, developer of the Hydrus Microstent, announced that it secured an additional $5 million in financing. Additionally, the company announced that it has received approval to market the Hydrus device in Australia.

The funds will support the company’s three multinational, randomized clinical trials, including in the U.S., as well as help establish activity in Asia Pacific.

“This influx of capital from Asia represents the next step in our global strategy,” said Dave Van Meter, president and CEO of Ivantis. “It is estimated that nearly 20 million people will have open angle glaucoma in Asia by 2020. If one considers Asia Pacific more broadly, and includes India, the number approximates 30 million.”