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§ Private Profile · Irvine, CA, USA
Medical device company developing minimally invasive surgical products for glaucoma treatment, specializing in the XEN Gel Stent.
Based in Aliso Viejo, California, AqueSys is a medical device company that develops surgical products for glaucoma treatment, specializing in the minimally invasive XEN Gel Stent to reduce intraocular pressure. Prior to its acquisition, the enterprise operated with four employees, generated approximately $1 million in annual revenue, and raised $106.5 million in venture capital funding. The company provides ophthalmic surgeons with implantable stents that create a permanent subconjunctival drainage pathway to manage vision loss in affected patients. Pharmaceutical corporation Allergan acquired the business in 2015 for a $300 million upfront payment, and the core technology is now manufactured under its current parent company, AbbVie. During its independent development phase, the manufacturer received financial backing from notable institutional investors including The Carlyle Group and SV Life Sciences. AqueSys was originally founded in 2006 by Ron Kurtz.
AqueSys has raised $79.0M across 2 funding rounds.
AqueSys has raised $79.0M in total across 2 funding rounds.
AqueSys has raised $79.0M across 2 funding rounds. Most recently, it raised $44.0M Series D in January 2014.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2014 | $44M Series D | — | Longitude Capital, Accuitive Medical Ventures, Carlyle, RHO Ventures, SV Health Investors | Announced |
| Jun 1, 2010 | $35M Series C | Longitude Capital, RHO Ventures | Accuitive Medical Ventures, Carlyle, SV Health Investors | Announced |
AqueSys has raised $79.0M in total across 2 funding rounds.
AqueSys's investors include Longitude Capital, Accuitive Medical Ventures, Carlyle, Rho Ventures, SV Health Investors.
AqueSys was a medical device company specializing in innovative surgical implants for glaucoma treatment, a condition affecting up to 65 million people worldwide and the second leading cause of blindness.[1][2][4] Its flagship product, the XEN Gel Stent, is a minimally invasive, 6 mm-long gelatin device implanted ab-interno to create a new aqueous outflow pathway, reducing intraocular pressure by about 40% (to 11-12 mmHg in studies with n=570 patients) without tissue dissection or suturing.[1][3] Targeting ophthalmologists and glaucoma patients, it addressed limitations of traditional surgeries by offering efficacy for both mild and severe cases.[3] Founded in 2006, AqueSys raised $106.5M before its acquisition by Allergan in September 2015, advancing minimally invasive glaucoma surgery (MIGS).[1][2][5]
AqueSys was founded in 2006 in Aliso Viejo, California (with early operations in Irvine), as a venture-backed medtech firm focused exclusively on glaucoma implants.[1][2][3] Key leadership included President and CEO Ron Bache, who presented the company's innovations at industry events, emphasizing safe, effective devices.[3] The idea emerged from re-envisioning sub-conjunctival drainage—a classic glaucoma approach—via proprietary minimally invasive tech, filling a gap in treatments for a disease impacting millions.[1][4][5] Early traction came from multiple funding rounds (A, B, C totaling $51M initially, up to $106.5M overall) and clinical data showing strong pressure reductions over 3 years (n=852 patients).[2][3] Pivotal moments included European and Canadian approvals for XEN before the 2015 Allergan acquisition, which integrated it into broader eye care offerings.[1][5]
AqueSys rode the rise of MIGS in the 2010s, shifting glaucoma care from invasive trabeculectomy to precise, outpatient implants amid growing demand (65M+ patients globally).[1][2][4] Timing aligned with aging populations and medtech advances in biocompatible materials, favoring sub-conjunctival bypass over drops or lasers.[3][5] Market forces like regulatory approvals (Europe/Canada pre-U.S.) and VC funding ($106.5M) propelled it, influencing ophthalmology by popularizing shunt tech—post-acquisition, Allergan expanded MIGS adoption, setting standards for competitors like EYE TECH CARE.[1][5] It shaped the ecosystem by proving single-implant efficacy, reducing reoperations, and inspiring patent-heavy innovation in ocular devices.[1][3]
Post-2015 Allergan acquisition (now under AbbVie), XEN Gel Stent has integrated into mainstream glaucoma portfolios, with U.S. approval following and ongoing studies reinforcing its role in MIGS evolution.[1][5] Next steps likely include combination therapies, AI-optimized implantation, and expansions into combo devices amid rising glaucoma prevalence from demographics. Trends like personalized ophthalmology and biologics will shape its path, potentially amplifying influence via AbbVie's scale—echoing AqueSys' origins, it remains a benchmark for minimally invasive eye tech transforming patient outcomes.[3][5]