Ivantis advances to $25m series C

EDBI and Vertex Ventures-backed Ivantis has closed a series C round that featured Mérieux Développement and Ascension Health.

US-based medical device company Ivantis, backed by the Singaporean government’s investment arm EDBI, closed a $25m series C round on Monday led by RA Capital Management.

The round included Mérieux Développement, the investment arm of healthcare technology developer Institut Mérieux, and Ascension Health Ventures, the corporate venturing division of healthcare provider Ascension Health.

New Enterprise Associates (NEA), Delphi Ventures, Foresite Capital, GBS Ventures and MemorialCare Innovation Fund also took part in the round.

Founded in 2007, Ivantis is developing products to treat glaucoma. Its lead product, Hydrus Microstent, is a device the size of an eyelash that is placed in a patient’s eye through a minimally invasive microsurgery procedure and reduces eye pressure.

The series C funding will support the company’s activities through 2020 and enable the commercialisation of the Hydrus Microstent in the US following an anticipated approval by regulator Food and Drug Administration in 2018.

Ivantis previously closed a $71m series B round, raised over four tranches, in 2014. The series B included EDBI as well as Vertex Ventures, a VC firm backed by Singapore state-owned investment firm Temasek Holdings.

Remaining series B investors were Ascension Health Ventures, Foresite Capital, NEA, Delphi, GBS and MemorialCare Innovation Fund.

In 2011, Ivantis obtained $17m in series A funding from Delphi and NEA, having been incubated by the latter firm.

See more from this Government Report: Singapore

Back

Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Big deal: British Business Bank launches $500m fund

    February 27, 2017

  2. Scohia Pharma to spin out of Takeda with $87m

    March 15, 2017

  3. Big deal: Airbnb takes series F booking from CIC

    March 13, 2017

  4. News round up 27 February 2017

    February 27, 2017

  5. Wills takes charge of Energy Technologies Institute

    March 07, 2017

Events

  • 23 May - 24 May, 2017

    GCV Symposium 2017 - London

    Join 400+ business leaders from the corporate venturing and wider high growth business ecosystem for the two-day 2017 GCV Symposium.

  • More Events