Ascension Health Ventures has led a $27m Series B financing round for eye disease treatment company Ivantis.
Existing investors New Enterprise Associates and Delphi Ventures also took part in the financing alongside new investor MemorialCare Innovation Fund.
Ivantis said it would use the financing to support four controlled glaucoma trials at various stages around the world.
AHV investment director Tara Butler said, “As a disease glaucoma is already one of the most vexing issues in our healthcare system today, and its prevalence is projected to double in the US by 2030.
“With over half of all glaucoma patients in the US not taking their medications consistently, if at all, this poses not only a medical challenge, but also a socio-economic burden.
“This investment decision was driven by high-caliber clinical data, a strong intellectual property position and obvious clinician conviction for the promise of this technology.
“Our limited partners’ expertise as leading healthcare providers, coupled with Ivantis’s premier technology and outstanding leadership team, made this a highly attractive and synergistic investment opportunity for us.”
AHV was launched in 2001 as a wholly-owned subsidiary of Ascension Health, and is currently a subsidiary of Ascension Health Alliance, a parent holding company formed in 2012.
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