Transcend Medical Raises $35 Million for Development of CyPass Glaucoma Treatment System
June 24, 2009
Transcend Medical, an ophthalmic device company that focuses on advances in the treatment of glaucoma, announced today that the company has completed a $35 million series B round of funding. Transcend also noted that the development of the Transcend CyPass™ System, which is a proprietary system for the minimally invasive treatment of glaucoma, is still underway.
Significant contributions to this round were made by lead investor HLM Venture Partners, along with other new investors Canaan Partners, Technology Partners and Latterell Venture Partners.
The Transcend CyPass™ System is planned to both replace current glaucoma therapies and to broaden the reach of treatment to a larger patient population. The system uses a proprietary system to lower intraocular pressure while offering various ease of use features for physicians.
Read the full press release.
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2 Responses to “Transcend Medical Raises $35 Million for Development of CyPass Glaucoma Treatment System”
Dave Harmon of Market Scope responded to my request for more information about Transcend’s CyPass system with the following information, taken from his most recent report on the Glaucoma Market:
“Transcend Medical, of Menlo Park, CA, has developed a novel and less-invasive glaucoma treatment. The approach combines benefits of trabeculectomy and shunts, but aims to be “simpler, faster and safer,” according to recent CEO Mitchell Campbell. Transcend has developed a synthetic tube, which is implanted as a flow mechanism to relieve the buildup of IOP. But the truly novel aspect of Transcend’s new treatment is that the device is delivered with a needle stick, rather than implanted through an incision. This needle stick delivery is aimed at reducing delivery time to about 10 minutes rather than the significantly longer time required for surgical implantation of a GDD. ”
Anyone wanting more information about Market Scope or any of their reports, should contact the company directly at: http://www.market-scope.com
Irv Arons
As Larry Haimovitch wrote at the end of his coverage of the 2009 ASCRS Meeting, (see my reproduction of his report: http://tinyurl.com/FS-Cataracts) this is a stent-like device. I have written the company to try and learn more about their device.
Irv Arons
