Amsterdam, the Netherlands — 5 September 2019: LSP, one of Europe’s leading life sciences and healthcare investors, today announced its investment in iSTAR Medical SA, a Belgian private medical device company developing novel ophthalmic implants for the treatment of glaucoma. The €40 million Series C financing was led by healthcare specialist funds LSP, investing from its LSP Health Economics Fund 2, and Gimv, with participation by Earlybird and BNP Paribas Fortis Private Equity. Existing shareholders, including Capricorn Venture Partners, Walloon Region Investment Fund (SRIW) and Belgian Federal Investment Fund (SFPI‐FPIM), also participated. This financing will support the development of iSTAR Medical’s MINIjectTM device along the path to commercialisation in Europe and the United States.
Glaucoma is the second leading cause of adult blindness globally affecting more than 92 million people. Micro-invasive glaucoma surgery (MIGS) is the most promising and fastest-growing therapeutic option in the treatment of glaucoma.
MINIject, a MIGS device, provides a powerful and reliable solution to safely reduce intraocular pressure (IOP) by enhancing aqueous humour outflow from the anterior chamber to the supraciliary space and has been designed to be a best-in-class MIGS device. Unlike other technologies, MINIject uses the innovative STAR® material, a soft and flexible, medical-grade silicone with a microporous, multichannel geometry.
Data from the first-in-human STAR-I trial for the MINIject device in a standalone setting confirm that MINIject is safe and highly effective in achieving significant IOP reduction, as well as easing medication burden in glaucoma patients.
In conjunction with the financing, Anne Portwich (LSP), Bram Vanparys (Gimv), and Lionel Carnot (Earlybird) will be joining the Board of Directors at iSTAR Medical.
About iSTAR Medical SA
iSTAR Medical SA, headquartered in Wavre, Belgium, is a private, clinical-stage, medical technology company focused on the development of novel ophthalmic implants for glaucoma.
iSTAR Medical’s management team and board have a successful track record in end-to-end product development, with proven clinical, regulatory and market access capabilities. The company is backed by specialised institutional and private investors. For more information, please go to www.istarmed.com
Glaucoma is the second leading cause of adult blindness globally, affecting more than 92 million people worldwide. Micro-invasive glaucoma surgery (MIGS) is the most promising and fastest-growing therapeutic option in the treatment of glaucoma. iSTAR has exclusive rights to the STAR® biomaterial from the University of Washington in Seattle (USA) for ophthalmic use. This provides the foundation for the development of MINIjectTM, designed to be a best-in-class MIGS device. The fast-growing MIGS market is expected to reach $1.2 billion worldwide by 2023 (MarketScope 2018 Glaucoma Surgical Device Report).
LSP is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders in the global life sciences industry. With over €2.0 billion ($2.3 billion) under management and offices in Amsterdam, Munich and Boston, LSP is Europe’s leading life sciences investor. The LSP Health Economics Fund 2 invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: www.lspvc.com« back to overview