iSTAR Medical

What iSTAR Medical does

iSTAR Medical is a Belgian medtech company founded in 2010 that develops minimally invasive ophthalmic implants for the treatment of open-angle glaucoma. Its sole commercial product, MINIject®, is a MIGS (minimally invasive glaucoma surgery) device manufactured from the company's proprietary STAR® material — a medical-grade silicone composed of a multi-channel network of hollow spheres designed to be soft, flexible, and to encourage bio-integration with surrounding tissue. MINIject® is positioned as the only commercially available MIGS implant that enhances natural flow in the supraciliary space, and clinical data (including 5-year sustained efficacy from the STAR-GLOBAL trial) supports its use for controlling intraocular pressure and preventing glaucoma-related vision loss.

The company makes money through direct hardware sales of MINIject® to hospitals and eye surgery centers in approved markets. Commercial sales are currently authorized in the European Union, the United Kingdom, Switzerland, and Australia, with an FDA-approved clinical trial (STAR-V) underway in the United States as the pathway to US market entry. Distribution is executed via a direct enterprise sales model with small, specialized field teams — the company has 11-50 employees — and awareness is built primarily through medical congresses, peer-reviewed publications, and direct engagement with ophthalmic surgeons rather than broad consumer marketing.

iSTAR Medical has raised approximately $60.9M across four disclosed funding rounds (most recently a ~$44M Series C in September 2019) from a syndicate of European life-sciences investors including Gimv, LSP BioVentures, BNP Paribas Private Equity, Earlybird Venture Capital, Capricorn Partners, SFPI-FPIM, and S.R.I.W. The company is targeting the MIGS segment, which is the fastest-growing glaucoma treatment category at a 24% annual growth rate, against a global patient population of over 100 million people with glaucoma. Revenue is not publicly disclosed and the company remains privately held with no parent organization or public listing identified.

Name

iSTAR Medical

Legal name

iSTAR Medical

Website

https://istarmed.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

iSTAR Medical is a Belgian medtech company that develops and sells MINIject®, a proprietary STAR® silicone MIGS implant for the minimally invasive surgical treatment of open-angle glaucoma, distributed directly to hospitals and eye surgery centers across the EU, UK, Switzerland, and Australia.

Ownership category

akta.pro rank

Product category

Ophthalmic Medical Devices (Minimally Invasive Glaucoma Surgery)

NAICS

Surgical and Medical Instrument Manufacturing (339112)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Glaucoma Diagnostics & Surgical Devices (Tonometry, Gonioscopy, MIGS, Drainage Implants, Laser Trabeculoplasty) (HLAHAJAI)

Keywords

• Minimally invasive glaucoma surgery
• Ophthalmic medical devices
• Supraciliary implants
• Glaucoma treatment devices
• Intraocular pressure control

Headquarters

HQ city

Bel

HQ country

Belgium

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. MINIject® MIGS Device Sales: Revenue generated from the sale of MINIject® implants to hospitals and eye surgery centers across approved markets (EU, UK, Switzerland, Australia). This is a medical device sales model with direct commercial distribution to healthcare providers.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

iSTAR Medical designs, manufactures, and commercializes MINIject®, a minimally invasive glaucoma surgery (MIGS) implant made from its proprietary STAR® silicone material, intended for patients with open-angle glaucoma to control intraocular pressure (IOP). The device is currently the only commercially available MIGS implant that enhances natural flow in the supraciliary space, sold through direct channels to hospitals and eye surgery centers across the EU, UK, Switzerland, and Australia.

Product overview

iSTAR Medical is a medtech company with a single focused product offering — the MINIject® MIGS device. MINIject® is made from the company's proprietary STAR® material, a medical-grade silicone composed of a multi-channel network of hollow spheres that is soft, flexible, and encourages bio-integration. The product is designed for minimally invasive glaucoma surgery and is the only commercially available MIGS implant targeting the supraciliary space. The portfolio consists solely of this one core device, with supporting clinical programs (STAR-GLOBAL trial, STAR-V FDA trial) to expand indications.

Differentiator

Problem solved

Functional benefit

Brands

• MINIject®: A novel MIGS (minimally invasive glaucoma surgery) device for patients with open-angle glaucoma, made of STAR® material. Currently the only commercially available MIGS implant that enhances natural flow in the supraciliary space.
• STAR®

Products and services

• MINIject® A novel minimally invasive glaucoma surgery (MIGS) implant for patients with open-angle glaucoma, made from proprietary STAR® medical-grade silicone. It is the only commercially available MIGS implant that enhances natural flow in the supraciliary space, delivering sustained control of intraocular pressure (IOP). It is sold directly to hospitals and eye surgery centers.

Quantifiable outcome

• Significant sustained 5-year efficacy demonstrated in STAR-GLOBAL trial
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Topcon Corporation: Topcon is a Japanese ophthalmic device company with surgical and diagnostic product lines reaching glaucoma specialists globally; it represents a comparable broad incumbent in the ophthalmic surgical device market where iSTAR competes.
• Alcon: Alcon is the largest dedicated ophthalmic medical device company globally and acquired Ivantis (Hydrus Microstent), making it a direct MIGS competitor and a likely strategic acquirer of iSTAR Medical given portfolio gap in supraciliary space.
• Bausch + Lomb: Bausch + Lomb is a major global ophthalmic surgical and pharmaceutical business that competes in glaucoma surgery instrumentation and is a plausible strategic acquirer with capacity to commercialize a supraciliary MIGS device at scale.
• Santen Pharmaceutical: Santen is a Japan-headquartered global ophthalmology specialist with a broad portfolio of glaucoma pharmaceuticals and devices, making it both a potential strategic partner/acquirer for iSTAR and a benchmark for geographic expansion of an MIGS franchise.
• Carl Zeiss Meditec: Carl Zeiss Meditec is a leading ophthalmic diagnostic and surgical device manufacturer with glaucoma-relevant surgical equipment lines, representing a broad incumbent competitor and potential strategic acquirer in the MIGS category.

Emerging players

• BVI Medical: BVI Medical is a privately held ophthalmic surgical device company building a portfolio in cataract and glaucoma surgery, making it a comparable emerging/scaling medtech peer and a possible strategic counter-bidder for iSTAR Medical.
• NovaBay Pharmaceuticals: NovaBay is a small ophthalmology-focused company commercializing eye care products through specialty channels; while not a direct MIGS device competitor, it is a useful emerging-player benchmark for commercial-stage ophthalmic medtechs of similar size.
• New World Medical: New World Medical develops and markets ophthalmic surgical devices including the Kahook Dual Blade for MIGS goniotomy, positioning it as a direct but smaller competitor in the same surgical-channel MIGS category as MINIject®.

Direct peers

• Glaukos Corporation: Glaukos is the pioneer and market leader in MIGS with the iStent family of trabecular micro-bypass stents for open-angle glaucoma — the most direct competitive benchmark for iSTAR Medical in product, indication, and target surgeon.
• Sight Sciences: Sight Sciences markets the OMNI surgical system, a MIGS/viscodilation device targeting IOP reduction in glaucoma — a direct procedural competitor to MINIject® with overlapping surgeon call points and similar commercial-stage profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/iSTARMed
• LinkedInlinkedin.com/company/istar-medical

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds4 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about iSTAR Medical