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:
- MoMelan closes in on $5 million funding round
Skin graft technology company MoMelan
Technologies Inc. raised nearly $4.8 million of a $5 million equity round spread across 18 investors, according to SEC filings. The Cambridge, Mass.-based Momelan makes a device that expands the surface area of skin grafts for treatment of skin disorders.
- Intervention Insights raises $7.2 million
Grand Rapids, Mich.-based Intervention Insights closed a $7.2 million funding round to expand commercialization of its health care information technology platform, which helps oncologists develop individualized patient treatment plans.
- NeuroWave stalks $5 million investment
Anesthesia monitoring device company NeuroWave Systems is looking out for $5 million dollars to fund the European commercialization of its anesthesia/sedation monitoring products, MedCity News reported.
- National Science Foundation hands out $18.5 million for neural engineering
The National Science Foundation awarded $18.5 million to eight institutions to form a sensorimotor neural engineering center at the University of Washington. The center, which is to launch this month, will work on robot devices that assist and understand the nervous system, according to an MIT press release.
- Greenway files for initial public offering
Electronic health record provide Greenway Medical Technologies Inc. registered a proposed initial public offering of shares of common stock last week. Quantity and pricing of shares hasn’t been determined just yet.