Ivantis was founded in 2007 by two coronary stent inventors to develop “the only minimally invasive microstent for glaucoma that dilates and scaffolds Schlemm’s canal.” With 25 full-time employees, the company has raised $102 million, and closed a $71 million B round last year, said Dave van Meter, president and CEO. More than 2,500 patients have been treated globally with the Ivantis Hydrus Microstent (about half as stand-alone procedures). The firm completed enrollment in its US pivotal trial in May 2015.
With the influx of companies concentrating on the micro-invasive glaucoma surgery (MIGS) category, product differentiation becomes a key marketing strategy. For Ivantis, that means showing “superior clinical data” for the initial combined phacoemulsification/glaucoma surgery outcomes. Ivantis also plans to leverage its scaffold platform into more complex procedures. The device has three “windows” to help surgeons confirm proper location in Schlemm’s canal. The 24-month data showed the Hydrus increases intraocular pressure (IOP) response (i.e., a decrease) by 74% compared with cataract surgery alone in mild to moderate glaucoma.
The COMPARE study, a “landmark, prospective, multicenter, randomized trial for MIGS in mild to moderate OAG” is enrolling 152 patients across 12 centers.
“We expect to show viability of canal-based MIGS in the stand-alone population,” van Meter said, and Ivantis intends to pursue an IDE trial in the US. Future improvements include adding a 24-hour sensor to the device.
David Van Meter
Dave joined Ivantis as President/CEO in 2008. Previously, starting in 2001, Dave worked at Abbott’s Vascular Division, where he was an early leader in the creation and growth of a business that grew from $60 to $400 MM from 2001 until 2006.