Eyecare specialist Iantrek has raised $42m to support the US launch of its allogeneic graft for treating glaucoma.
Through its bio-interventional ophthalmic surgery (BIOS) platform, Iantrek’s AlloFlo Uveo targets the uveoscleral pathway. While pharmaceuticals such as cholinergic agonists and sympathomimetics have long since targeted the pathway, the eye region has historically been considered too technically challenging to access and manipulate surgically.
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Claimed to be the first uveoscleral graft of its kind, AlloFlo Uvea is designed to improve drainage pathways and lower intraocular pressure (IOP) in the eye region by reinforcing the sclera following controlled cyclodialysis, a surgical procedure that creates a space for fluid drainage.
In March, Iantrek published data in Ophthalmology Science demonstrating that its technology achieved reductions in IOP above 20% in 74% of patients, with a mean IOP reduction of 34% compared with baseline. In May, the company announced the completion of more than 2,000 procedures with AlloFlo Uvea ahead of its planned US launch in Q3 2025.
In improving the eyes’ ability to drain fluid and lower IOP, the most common approach to treating glaucoma has historically been minimally invasive glaucoma surgery (MIGS), an approach that targets the eyes’ trabecular pathway.
However, research indicates that MIGS offers no guarantee of long-term efficacy for glaucoma patients and often requires repeat procedures.
According to Iantrek’s CEO Adam Szaronos, several million patients in the US are experiencing waning efficacy after having previously undergone MIGS.
Szaronos explained: “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 investment round was led by US Venture Partners (USVP) and brings Iantrek’s funding to date to around $85m. New investor aMoon, and existing investors including Visionary Ventures and Sectoral Asset Management, also participated.
Left untreated, glaucoma is the leading cause of irreversible blindness worldwide. Research indicates that optic degenerative neuropathy will affect more than 110 million people globally by 2040.
Depending on glaucoma’s severity, the condition can be treated with eye drops, medication, surgery or with femtosecond lasers that treat the condition by creating microscopic channels in the trabecular meshwork to improve fluid drainage and reduce eye pressure.
Alcon is one of the biggest players in the eyecare space, offering femtosecond laser treatment for glaucoma, among other indications. Earlier this month, the company signed a $1.5bn deal to acquire ailing rival STAAR Surgical.
