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InnFocus completes $32.8 million financing for MicroShunt system
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InnFocus completed a $32.8 million Series C financing to fund the study of its MicroShunt glaucoma drainage system, according to a press release.
The financing, which includes investors Hoya Corporation, Saints Capital Everest, Santen Pharmaceutical and Crown Venture Fund, will fund the system’s final phase of clinical trials.
“The money raised will help the company complete the final phase of our FDA trial,” Russ Trenary, president and CEO of InnFocus, said in the release. “We are also very pleased that two of our Series C investors are large ophthalmic companies, which we believe is another validation of the potential of our technology.”
The prospective randomized study will evaluate the safety and efficacy of the MicroShunt as an alternative surgical treatment for all stages of primary open-angle glaucoma.
Phase 1 included more than 100 cases in the U.S., and more than 200 patients have been treated in seven other countries. Patients treated outside the U.S. have up to 3 years of follow-up. Mean IOP in those patients decreased from approximately 25 mm Hg with patients on full medications at baseline to below 15 mm Hg with the majority of patients completely removed from medications at 3 years.