Welcome!

News Feed Item

Transcend Medical Announces Closing of $22 Million Series C Financing

Funding Supports Completion of Landmark Pivotal Trial for Breakthrough Glaucoma Micro-Stent

MENLO PARK, CA -- (Marketwired) -- 04/02/14 -- Transcend Medical, Inc., a medical device company dedicated to the development of minimally invasive glaucoma interventions for the ophthalmic surgeon, announced today the closing of a $22 million Series C preferred equity investment. Existing investors and an undisclosed global pharmaceutical and medical device company participated in the round.

The funds will support completion of the US-based, randomized, controlled COMPASS pivotal trial evaluating the CyPass® Micro-Stent, a next-generation, micro-invasive glaucoma implant, in the largest enrolled glaucoma surgery study to date. The follow-up period for the COMPASS trial is scheduled to complete in the second quarter of 2015.

"Securing this funding from new and existing investors demonstrates continued confidence in our ability to bring to market the innovative CyPass Micro-Stent technology," said Brian Walsh, President and Chief Executive Officer of Transcend Medical. "The COMPASS pivotal trial will provide an unprecedented amount of data for a glaucoma micro-stent, and we are proud to be leading such a rigorous development program. With the new funds, Transcend will continue executing our strategy to bring this breakthrough therapy to the many patients suffering with glaucoma around the world."

Glaucoma is a progressive disease of the optic nerve, usually the result of abnormally high intraocular pressure (IOP). Glaucoma affects 65 million people worldwide and is the leading cause of irreversible blindness.(1) While topical medications to lower IOP are first-line therapy and represent a > $5 billion market,(2) patient adherence is low,(3) and many require alternative therapies.

About the CyPass Micro-Stent
The CyPass Micro-Stent is the first micro-invasive glaucoma stent designed to reduce intraocular pressure (IOP) by enhancing aqueous outflow to the suprachoroidal space, which is an important part of one of the eye's natural, alternative drainage pathways. Implanted using a minimally invasive procedure to bypass the ciliary body, the CyPass device is designed to leverage the same mechanism of action targeted by prostaglandin analogues -- the most effective medical treatment for IOP. Targeting this outflow pathway avoids the trabecular meshwork and Schlemm's canal -- the drainage path that is believed to be compromised in glaucomatous eyes. The CyPass Micro-Stent has received the CE Mark; however, the device is currently only for investigational use in the U.S.

About Transcend Medical, Inc.
Transcend Medical (www.transcendmedical.com) is focused on the development of minimally invasive medical devices for the treatment of glaucoma, the leading cause of adult irreversible blindness. Over 4 million people in the U.S. and roughly 65 million worldwide are afflicted with the disease today, and the numbers are expected to grow to nearly 6 million in the U.S. and over 70 million worldwide by the year 2015. The current investor syndicate includes mag, Split Rock Partners, Canaan Partners, Investor Growth Capital, Technology Partners, HLM Venture Partners, Latterell Venture Partners, Kaiser Permanente Ventures, Finistere Ventures and the undisclosed corporate investor.

(1) Quigley HA. Number of people with glaucoma worldwide in 2010 and 2020. Br J Ophthalmol. 2006 Mar;90(3):262-7.
(2) Market Scope. 2012 Report on the Global Glaucoma Surgical Device Market. September 2012.
(3) Muir KW. Glaucoma medication adherence: room for improvement in both performance and measurement. Arch Ophthalmol 2011 Feb;129(2):243-5.

Caution: Investigational Device. Limited by Federal (USA) law to investigational use.

For more information, please contact:

Ravi Pamnani
Transcend Medical, Inc.
+1-650-223-6625
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Andi Mann, Chief Technology Advocate at Splunk, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, and communicator. For over 30 years across five continents, he has built success with Fortune 500 corporations, vendors, governments, and as a leading research analyst and consultant.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER gives detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPOalso offers sp...
Today, we have more data to manage than ever. We also have better algorithms that help us access our data faster. Cloud is the driving force behind many of the data warehouse advancements we have enjoyed in recent years. But what are the best practices for storing data in the cloud for machine learning and data science applications?
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...