A flow regulating implant is provided with one or more grooves for allowingfluid flow. One or more grooves may have a constant or varying cross-sectionalong its length. One or more grooves may have in it biodegradable material,absorbable material, and/or threads or sutures. A resilient band or coatingmay be placed around the implant or one or more grooves, to act as a pressureregulator. The implant may have a side projection, such as a side pin, forengaging tissue. The implant may comprise two or more parts that are held ata. distance from each other to allow fluid flow between the parts.