Glaukos Corporation Raises $30 Million
2/6/2013 8:27:41 AM
Glaukos Corp. in Laguna Hills has raised $30 million in equity funding for the U.S. marketing of its implantable device for the treatment of glaucoma. The funding round was led by Meritech Capital Partners and joined by existing investors including Versant Ventures, Domain Associates, Montreux Equity Partners, InterWest Partners, Frazier Healthcare, OrbiMed Advisors and Gund Investment Corp. Glaukos recently earned U.S. Food and Drug Administration approval after 11 years of development of its iStent Trabecular Micro-Bypass Stent System. It is the first-ever inside-out glaucoma implant approved for use in the United States, the company said. The device is implanted in the eye during cataract surgery to relieve eye pressure. Glaucoma is a group of eye diseases that can damage the optic nerve and eventually cause loss of eyesight. It occurs when fluid pressure inside the eye rises to unhealthy levels. The iStent is the smallest medical device implanted in the human body, according to Glaukos. The device of non-ferromagnetic titanium is one millimeter long.