Ivantis raises $46.5 million for microstent

Ivantis has raised an additional $14 million in the final close of its Series B financing, bringing the total Series B to $46.5 million. The funds will support the company’s three ongoing multinational clinical trials, including the US pivotal trial, for the Hydrus mircrostent.

The minimally invasive drainage device for glaucoma has been shown in early trials to reduce eye pressure in glaucoma patients, allowing some to stop using topical medication.

While the US approval trial is evaluating Hydrus in glaucoma patients who are undergoing cataract surgery, the device is being used both in cataract surgery and in standalone glaucoma surgery internationally.

Implanted inside Schlemm's canal in a minimally invasive, microsurgical  procedure, the Hydrus increases outflow by allowing aqueous to bypass the trabecular meshwork and by dilating the canal. The company says the device's non-luminal open design improves flow into the canal and gives it better access to collector channels.

Earlier this year, Ivantis received marketing approval for the Hydrus in Australia.