The developer of an alternative surgical approach to glaucoma has raised $42 million to bolster the commercial launch of its hardware-free, tissue-based solution for relieving intraocular pressure.
Iantrek’s AlloFlo Uveo system is designed to offer ophthalmic surgeons another route to drain fluids from the eye, using a porous, biologic material that conforms to and reinforces certain channels around the edges of the cornea. The company said its allogeneic graft aims to fill a treatment gap left open by micro-scale metal implants, such as Glaukos’ iStent platform.
“Our mission is to address a major unmet need in glaucoma care, and this fundraise marks a pivotal moment in helping us achieve it,” Iantrek CEO Adam Szaronos said in a statement.
“More than 2.5 million eyes in the U.S. are experiencing waning efficacy from previous Minimally Invasive Glaucoma Surgery (MIGS) procedures targeting the trabecular pathway,” Szaronos added. “AlloFlo Uveo enables access to the uveoscleral pathway, the eye’s other natural drainage system—much like giving a thoracic surgeon the ability to enhance the second lung.”
The company’s series C round was led by U.S. Venture Partners, and included backing from aMoon Fund, Visionary Ventures, Sectoral Asset Management, Radius Special Situations Fund and Civilization Ventures.
Earlier this year, Iantrek reported that its AlloFlo Uveo system has already been used in more than 2,000 U.S. procedures, ahead of a full commercial launch planned for this fall and into next year, starting during October’s annual meeting of the American Academy of Ophthalmology in Orlando, Florida.
A previous clinical study showed that the use of AlloFlo Uveo after a minimally invasive cyclodialysis procedure—which creates an opening from the fluid-filled chamber at the front of the eye into its surrounding, outermost layers—was able to reduce intraocular pressure by an average of about one-third after two years, while medication usage dropped by more than 60%. Thirty-one eyes were treated alongside surgeries to remove cataracts.
According to Iantrek, the uveoscleral pathway has long been targeted by pharmaceuticals, but has lacked surgical options until now.
“This raise reflects strong confidence in Iantrek’s bold vision and disruptive approach to interventional glaucoma,” said Casey Tansey, general partner at USVP. “Their platform is redefining what’s possible by combining simplicity, precision, and improved outcomes.”