April 23, 2009
1 min read

iScience Interventional receives $20.5 million in Series F funding

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MENLO PARK, Calif. — iScience Interventional has secured $20.5 million in Series F financing from a number of existing and first-time investors, the company announced in a press release.

iScience plans to use these funds to develop therapies for treating glaucoma, age-related macular degeneration and diabetic macular edema. The company's iTrack canaloplasty microcatheter, which has already received U.S. Food and Drug Administration 510 clearance and a European CE Mark for lowering IOP in patients with open-angle glaucoma, is currently being evaluated in a number of clinical studies in Europe for treating patients with wet AMD who are non-responsive to intravitreal therapy.

The company expects to publish interim results from these studies later this year.

"We believe that these sight specific treatments will represent a dramatic step forward in patient care, while providing a valuable benefit to both private health care providers and public health care systems," Michael F. Nash, president and chief executive officer of iScience, said in the release.

Affinity Capital Management led the round of financing, with Johnson & Johnson Development Corp., L Capital Partners and Clarian Health Ventures participating as first-time investors. Prism VentureWorks, Three Arch Ventures, DeNovo Ventures and Asset Management — all existing investors — also participated in the financing.

Piper Jaffray & Company served as the placement agent for the transaction.