Iantrek Raises $23M in Series B; Appoints New CEO

Ophthalmic device company Iantrek has closed a $28M Series B financing round. The oversubscribed financing was led by institutional investors Visionary Ventures and Sectoral Asset Management.
 
According to the company, the capital will be used to begin clinical introduction and postmarket studies of the company’s micro-interventional glaucoma surgical (MIGS) devices in the U.S. Further, Marc-Andre Marcotte, CFA, partner at Sectoral Asset Management, and Dr. Farrell Tyson, general partner at Visionary Ventures, will join Iantrek’s board.
 
Iantrek, according to the company, is the only MIGS company with FDA-registered tech to address both natural aqueous pathways, trabecular and suprachoroidal. Earlier this year, the firm revealed its breakthrough CycloPen targeting the suprachoroidal outflow pathway—a target where MIGS micro-stent interventions have shown “significant and sustained outflow enhancement” with most patients demonstrating intraocular pressure reduction of 20% or more.
 
The first cases using the technology were performed in the U.S. in early August. Iantrek further announced the appointment of Dr. Sean Ianchulev, the company’s founder and Chairman, as the company’s CEO.
 
“There remains a significant unmet clinical need to provide safe and effective micro-interventional tools for aqueous outflow management,” Dr. Ianchulev, who is also Professor of Ophthalmology at the Icahn School of Medicine at Mount Sinai and Director of Ophthalmic Innovation and Technology at the New York Eye and Ear Infirmary of Mount Sinai, told the press. “We are grateful to have a world-class syndicate of investors supporting our efforts to advance these new technologies. With two commercial ready MIGS platforms, Iantrek is uniquely positioned to transform the horizon of micro-interventional ophthalmic surgery.”