Irvine, CA-based AqueSys has landed $35 million in Series C financing in a round led by Longitude Capital and Rho Ventures. The company, which makes glaucoma treatments, is developing an implant that could halt glaucoma-related vision loss through a 10-minute procedure. AqueSys CEO Ron Bache said in a statement that the funding will help the company pursue further clinical results.
Glaucoma is the second leading cause of blindness, affecting more than 60 million people worldwide. The combined pharmaceutical and surgical market for the disease is about $4.5 billion. But drugs treating the disease are costly and patient compliance is often spotty. Current surgical options are invasive. "We believe the AqueSys procedure offers the possibility of a safe and effective minimally invasive surgical glaucoma treatment that can, in time be offered to patients who need surgery as well as to those who are not able or willing to comply with their pharmaceutical regimen," noted Juliet Bakker, managing director of Longitude Capital in a statement.
- here's AqueSys' release