US-based Ivantis, the developer of a device to treat glaucoma patients, has raised an additional $25m from investors including corporate venturing unit Ascension Ventures to take its series B round to $71m.
Venture capital firms Foresite Capital, New Enterprise Associates (NEA), Delphi Ventures, Vertex Ventures and GBS Ventures, investment firm EDBI and investment fund MemorialCare Innovation Fund also participated. The funding will be used to support clinical trials for its Hydrus Microstent device.
This round adds to three previous series B closings, the most recent being in January 2013 when $14m was raised from the same investors. Ascension Ventures is a subsidiary of hospital operator Ascension Health.
Dave Van Meter, president and chief executive of Ivantis, said: “The remarkable level of interest we have had in this financing demonstrates high confidence in our growing body of clinical data. With this significant capitalisation, we look forward to rapidly executing our clinical and operational goals.”
Ivantis raised $17m in 2011 from NEA and Delphi, having initially been incubated at NEA.