Transcend lands $51 million for micro-stent technology | Funding Roundup

July 21, 2011 By MassDevice staff

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.

The Cypass micro-stent is a tiny implant inserted into the eye through a minimally invasive surgical procedure for the treatment of glaucoma that may eliminate the need for medication, according to the press release.

New interest Investor Growth Capital put some skin in the company during this tranche, joining existing investors Canaan Partners, Finistere Ventures, HLM Venture Partners, Kaiser Permanente Ventures, Latterell Venture Partners, Morgenthaler Ventures, Split Rock Partners and Technology Partners.

Transcend Medical CMO Sean Ianchuleve was recently named to the witness list for this week’s House Energy & Commerce Committee’s oversight subcommittee meeting to examine the FDA’s performance in clearing medical devices for the U.S. market.

Here’s a roundup of other dealflow and investment news:

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