Ivantis Inc. in Irvine closed on a $25 million Series C funding round for development and eventual marketing of a stent intended for use in glaucoma surgery.
New investor RA Capital Management LLC in Boston led the round, which included fellow new investor France-based Mérieux Développement, which has U.S. offices in Boston, and several current investors.
Ivantis’ backers include MemorialCare Innovation Fund, an investment arm of MemorialCare Health System in Fountain Valley.
The recent investment brings its total backing to more than $130 million, according to Crunchbase, and is projected to provide funds through 2020. It anticipates Food and Drug Administration approval for its Hydrus Microstent in 2018.
—Paul Hughes
