Healthcare Industry News:  Novo Ventures 

Devices Ophthalmology Interventional

 News Release - October 11, 2011

iScience Interventional Receives Investment Which Accelerates Microcatheter Commercialization Activities

MENLO PARK, Calif.--(Healthcare Sales & Marketing Network)-- iScience Interventional (iScience, Menlo Park, CA), pioneers of site-specific therapies for anterior and posterior ocular diseases, today announced an investment by Medtronic Inc. to support rapidly expanding commercialization activities and the development of innovative drug delivery technologies for the eye. iScience Interventional is the world leader in developing minimally invasive access technologies that are used to deliver drugs, biologics, and devices to difficult to reach locations within the eye.

Medtronic, one of the world’s largest medical technology companies, is committed to advancing healthcare by investing in innovative technologies and new markets.

“We are pleased to have Medtronic as one of our investors. This is a time of intense change in ophthalmology, and Medtronic’s understanding of catheters and interventional treatments is an excellent fit with our product portfolio and clinical development activities. This will allow us to accelerate our ability to get innovative treatments to the market,” commented Michael F. Nash, President & CEO of iScience Interventional.

iScience Interventional discovers and develops microcatheter and imaging technologies that enable ophthalmologists to deliver site-specific ocular therapies. Through visualization and access to compromised structures within the eye, physicians may dramatically advance how they evaluate and manage their patients in the future.

“Microcatheters are rapidly redefining the treatment paradigm for a wide range of ocular diseases from glaucoma to macular degeneration. As a world leader in interventional technologies, Medtronic understands the power of microcatheter-based therapies. We are excited to collaborate with Medtronic as we address some of the most significant intractable diseases of the eye,” stated Mr. Nash.

“iScience has the potential to change how we address a wide range of ocular diseases. The ability to deliver drugs, biologics, devices, and cell therapies directly to the site of the diseases may redefine how we manage several of the most significant sight-threatening conditions of the eye,” said Steve Oesterle, MD, Senior Vice President for Medicine and Technology at Medtronic.

Canaloplasty, iScience’s microcatheter-based procedure for glaucoma, is quickly becoming the standard of care for moderate to advanced glaucoma patients around the globe. The Company also manufactures microcatheters that are currently used in clinical trials for the access and delivery of pharmaceuticals and biologics to the suprachoroidal and sub-retinal spaces for treatment of retinal diseases.

Medtronic joins existing investors Asset Management Company, Prism VentureWorks, DeNovo Ventures, Three Arch Partners, Affinity Capital Management, Johnson & Johnson Development Corporation, CHV Capital, Inc., L Capital, and Sightline Partners.

About iScience Interventional

iScience Interventional, based in Menlo Park, California and founded in 1999, is a science and technology company that specializes in the development of leading-edge, interventional therapies and procedures for the eye. Breakthrough interventional systems are enabling a new generation of site specific treatments for several of the most significant sight-threatening diseases in ophthalmology.

Source: iScience Interventional

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