Glaukos (NYSE:GKOS) said yesterday that it agreed to settle a patent infringement lawsuit brought by eye stent rival Transcend Medical. The agreement, in which both sides agree not to sue for patent infringement, calls for Transcend to pay a 1% royalty on sales of its Cy-Pass micro-stent until April 2022, with the total amount capped at $6 […]
Transcend Medical Inc.
Transcend Medical said today that it filed the final module in its pre-market approval application with the FDA for the CyPass micro-stent glaucoma treatment. Menlo Park, Calif.-based Transcend said the PMA bid is based on its Compass trial, which met its primary endpoint of 20% or greater reduction in intraocular pressure. The 500-patient study of subjects with […]
A federal judge last week said a jury will decide whether Glaukos (NYSE:GKOS) tried to hide the role of 1 of the inventors of its eye stent in patent filings, in a lawsuit with rival Transcend Medical. In 3 decisions issued Sept. 18, Judge Mitchell Goldberg of the U.S. District Court for Delaware ruled that Transcend’s CyPass device does not infringe the Glaukos […]
Until recently, the treatment for glaucoma – a group of diseases that cause pressure within the eyeball – consisted of several options, none of them ideal. Patients could opt for medicines, either oral or via eyedrops, to lower eye pressure. A surgical option that in essence creates a drain in the eyeball for ocular fluid is also available, as is a procedure call laser trabeculoplasty that also creates a drainage pathway.
Transcend Medical said it closed on a Series C round worth $22 million that included a contribution from an unnamed "global pharmaceutical and medical device company."
Transcend, which is developing a micro-stent called the CyPass to treat glaucoma, said it plans to use the proceeds to complete its Compass pivotal trial for the CyPass device. The study’s follow-up period is slated to be complete during the 2nd quarter of 2015, according to a press release.
Transcend Medical Inc. closed a second tranche of its series B financing round, bringing its total take to $51 million.
The Menlo Park, Calif.-based company develops ophthalmic devices for minimally invasive glaucoma therapies, and plans to use the newly raised funds for development of additional infrastructure and resources for a U.S. study of its CyPass micro-stent technology, as well as for development of next-generation glaucoma therapies.