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Ivantis raises $27 million in financing to fund trials on microstent

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Ivantis raised $27 million in a Series B round of financing for additional trials of its Hydrus microstent, according to a company news release.

The device, which is about the size of an eyelash, according to the release, is designed to help re-establish the natural outflow pathway in the eyes of glaucoma patients.

The funds will be used to support four randomized, prospective, controlled multicenter trials worldwide, including a trial already started in the United States.

The HYDRUS III study, comparing the effectiveness of the Hydrus with the iStent (Glaukos), is more than 50% enrolled, according to the release.

Ascension Health Ventures led the financing round, which also included New Enterprise Associates, Delphi Ventures and MemorialCare Innovation Fund, according to the release.