VentureWire reports that Transcend Medical, a developer of devices to treat glaucoma, has raised $20 million in equity. The Menlo Park, Calif., company is a spin-off from ForSightLabs, an ophthalmology incubator created by The Foundry. Transcend Medical has created CyPass, a minimally invasive glacuoma device that can be inserted with a needle in a patented procedure that takes 5 to 10 minutes. Glaucoma affects over 2 million people in the United States.
Other companies working in the glaucoma device space include Sensimed, ScyFix, Abbott Medical Optics (formerly Advanced Medical Optics), Coronado Industries, Laser Diagnostic Technologies, Refocus Group, and iScience Surgical.