Ivantis, a US-based healthcare company dedicated to developing treatments for glaucoma eye disease, has secured an additional $5m in the second close of its series B financing, led by EDBI, the corporate investment arm of Singapore’s Economic Development Board.
In January, Ivantus raised $27m in its series B round from a consortium led by faith-based healthcare corporate venture fund Ascension Health Ventures as a new investor. Venture capital firms New Enterprise Associates (NEA) and Delphi Ventures, and MemorialCare Innovation Fund also participated in the round.
The funds will support clinical trials, as well as establishing activity in Asia Pacific.
Swee-Yeok Chu, chief executive officer and president, EDBI, said: “Ivantis will strengthen Singapore’s position as a global leader in ophthalmology research and clinical services. The company will build product development and clinical capabilities in the emerging field of minimally invasive glaucoma surgery. We look forward to supporting Ivantis’ expansion in Asia, and assisting the team with market access and localization of the Hydrus Microstent to realize the potential of this fast growing market.”
Ivantis’hydrus microstent device is used to treat patients suffering glaucoma.
Dave Van Meter, president and chief executive officer of Ivantis, said: “This influx of capital from Asia represents the next step in our global strategy. 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. EDBI is a proven ophthalmic devices investor, and we look forward to collaborating on our research with the prestigious Singapore National Eye Center as a result of this investment.”
Ivantus was established in 2007.