Ivantis, Inc. Scores $17 Million For Glaucoma Treatments
6/27/2011 8:56:29 AM
Ivantis announced today at the World Glaucoma Congress in Paris that it has received $17 MM in funding from New Enterprise Associates (NEA) and Delphi Ventures. The funds will be used to expand clinical activities for the Hydrus, the world's first intracanalicular ("in the canal") scaffold for treatment of primary open angle glaucoma, a disease that afflicts over 60 million people worldwide. These funds, which constitute the second round of financing, will be used to support multiple randomized controlled trials around the world, including in the United States. "NEA is pleased to lead Ivantis' latest round of financing. The technology and leadership team are first-rate," said John Nehra, Special Partner at NEA. "The Company has consistently achieved its milestones since its inception in 2007 as an NEA incubator company, and has an internationally recognized Scientific Advisory Board representing all facets of the glaucoma market. All signals are that this technology can potentially revolutionize glaucoma treatment worldwide."