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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