Orange County Business Journal

Irvine Eye Device Maker Ivantis Gets $17 Million in Funding

Vita Reed Monday, June 27, 2011

Irvine medical device maker Ivantis Inc. said Monday that it has received $17 million in a second round of venture funding.

Ivantis plans to use the money to expand clinical activities for its Hydrus scaffold, which is implanted in a patient’s eye to treat glaucoma. Glaucoma affects more than 60 million people worldwide and is a major cause of blindness.

New Enterprise Associates and Delphi Ventures, both of Menlo Park, provided Ivantis’ funding.

Ivantis, which is participating in the World Glaucoma Congress in Paris, also said that it received European regulatory clearance for Hydrus.

The company, which was established in 2007, competes in a market that is estimated at $4.5 billion worldwide for drug and surgical treatment.

Companies that treat glaucoma run the gamut from big companies such as Irvine’s Allergan Inc. and Santa Ana-based Abbott Medical Optics Inc. to smaller entries such as Glaukos Corp. of Laguna Hills and Irvine-based AqueSys Inc.