Avisi Technologies Raises $10.7M Series A for Glaucoma Shunts
Avisi Technologies, a Philadelphia-based developer of nanotechnology-enabled ophthalmic implants, has raised $10.7M in Series A funding led by MedVenture Partners. The flagship VisiPlate is an ultrathin, multichannel aqueous shunt that drains fluid to reduce intraocular pressure in open-angle glaucoma patients. The capital will fund the FDA-approved SAPPHIRE pivotal trial and pipeline products like VisiPlate-S.
Glaucoma Devices Funding Accelerates
The raise aligns with a 2026 funding wave in glaucoma: PolyActiva secured $40M Series C for eye implants, while VividWhite gained $1M for surgical tools. iStar Medical raised $60.8M total in Series C for its PRESERFLO MicroShunt. Avisi's nanotech shunt targets fibrosis-prone subconjunctival space where traditional devices fail in 30-50% of cases.
Fibrosis Fails Half of Shunts
Glaucoma affects 103M globally, with open-angle cases driving 90% of cases; poor drop adherence leaves 50% uncontrolled. Traditional shunts like Ahmed valves suffer 30-50% failure from scarring within two years, requiring reoperation. Daily drops burden patients, with 40% non-adherent, fueling demand for durable implants.
Metamaterials Block Scarring Risks
VisiPlate uses alumina/Parylene-C metamaterial, 20x thinner than hair, with redundant microchannels for unblockable flow. VITA trial showed 42.6% IOP reduction at 12 months, 46.7% patients med-free, zero serious adverse events. Unlike iStent's trabecular stents or PRESERFLO's gel tube, VisiPlate's design resists encapsulation.
As Dr. Kiersten Snyder noted:
"The VisiPlate is a remarkable technology showcasing a thin and flexible design for controlled aqueous outflow. It was also easy to install."
Japanese VCs Signal Exit Path
MedVenture Partners led with expertise in implantable devices, boasting exits like Arrinex to Medtronic. Japanese investors SNBL-Gemseki and SBI US Gateway join U.S. backers like Golden Seeds, signaling conviction in Asia commercialization post-SAPPHIRE. Prior seed investors Good Growth Capital doubled down, validating clinical de-risking.
$2.4B Market Eyes MIGS Shift
Glaucoma surgery devices hit $2.44B in 2026, growing at 14.6% CAGR to 2032. Glaukos Corporation, with $383M FY2024 revenue, dominates MIGS via iStent, targeting $600-620M in 2026 sales. MicroOptx raised $18.3M for nanotech drains; New World Medical holds Ahmed valve share. MIGS rise addresses drop fatigue amid aging populations.
Drainage Segment Scales Faster
Drainage devices alone reach $1.5B by 2026 at 12% CAGR, driven by refractory cases. Avisi's subconjunctival focus exploits gaps in valved shunts' complication rates. Recent FDA nods, like Glaukos' iDose TR re-dosing, accelerate implant adoption versus drops.
MD-Engineer Founders Win Prizes
Co-founders Rui Jing Jiang (Wharton MBA) and Brandon Kao (UPenn Materials Engineering, UCSF MD Ophthalmology resident) won UPenn President's Innovation Prize 2018 for VisiPlate. Kao's nanoscale research directly informs the implant; Jiang drives funding from NSF grants to this $10.7M round. Scientific Advisory Board features glaucoma icons like Ike Ahmed MD and Eydie Miller-Ellis MD.
Pivotal Trial Enrollment Ramps
Post-first U.S. implant in SAPPHIRE trial (December 2025), funds enable multi-center expansion and VisiPlate-S suprachoroidal development. 12-month VITA data at AAO 2025 positions device for FDA submission by 2027.