Capricorn et al. back €10m series-B for iStar

Existing shareholder Societe Regionale d'Investissement de Wallonie (SRIW) also contributed to the round, complemented by Belgian Federal Investment Fund, Fond Européen des Matériaux, Start-Up and several private investors.

The fresh capital will help iStar complete the development and fund the CE-marking clinical study of their product MINIject – a micro-invasive glaucoma implant that reduces intra-ocular pressure.

The glaucoma drainage device market is expected to reach $1bn worldwide by 2020, according to iStar.

Katya Smirnyagina, who led the deal for Capricorn, told unquote": "iStar has exclusive rights in ophthalmology for a unique material: Star Biomaterial, which they use to develop a pipeline of devices to treat glaucoma."

Previous funding
In 2013, iStar raised €4m in a series-A round co-led by the Capricorn Healthtech Fund and SRIW.

Company
iStar is a clinical-stage medtech company aiming to improve the lives of patients suffering from eye diseases by developing ophthalmic implants.

Founded in 2010, it is headquartered in Wavre.

People
Capricorn Venture Partners – Katya Smirnyagina (partner).

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