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
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.