California ophthalmic devices maker AqueSys touted a couple of milestones today, landing a successful $43.6 million Series D funding round and closing enrollment in U.S. clinical trial of its XEN Gel stent for treatment of glaucoma.
The funding will allow AqueSys to make progress with its clinical trials, regulatory pursuits and commercialization efforts, president & CEO Ron Bache said in prepared remarks.
The company completed its 1st clinical trial under FDA investigational device exemption for its minimally invasive XEN Gel stent, hoping to land indication to treat patients with sight-threatening glaucoma. AqueSys has also initiated enrollment in its 2nd IDE trial of another model of its XEN Gel, according to the company.
"Our XEN Gel Stent international trials have demonstrated the minimally invasive technology’s ability to safely and significantly lower intraocular pressure via the globally accepted gold standard mechanism of action (subconjunctival drainage)," Bache said. "Our strong capitalization allows us to confidently look forward, and accelerate the execution and attainment of our clinical, regulatory, and commercial goals."
The privately held company closed its latest funding round an unnamed lead investor, with previous funders Accuitive Medical Ventures, The Carlyle Group, Longitude Capital, Rho Ventures and SV Life Sciences still in the mix, according to a press release.
