Transcend Medical pockets $35M in VC

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Transcend Medical has raised $35 million in a Series B designed to fund development of its Transcend CyPass System for glaucoma. Lead investor HLM Venture Partners joined new investors Canaan Partners, Technology Partners and Latterell Venture Partners and current investors Morgenthaler Ventures and Split Rock Partners to complete the round.

"We are now well-capitalized to accomplish all initial clinical and commercial milestones for the company." said Brian Walsh, CEO of the Menlo Park, CA-based developer.

"There is a significant need to improve how we treat glaucoma," commented Eugene de Juan, Jr., M.D., a professor of ophthalmology at UCSF who founded the company. "Today's treatment options for glaucoma are highly limited and only feasible in a limited portion of those affected by the disease worldwide."

- check out the Transcend Medical release