Instylla, Inc., a Bedford, Mass.-based company developing minimally invasive liquid embolic products designed for use in peripheral vascular embolotherapy, closed a $25.4 million Series B financing.
Backers included new investors Excelestar Ventures, Catalyst Health Ventures, and Amed Ventures. Existing investors Ascension Ventures, Sparta Group and Incept also participated. As part of the financing Tasneem Dohadwala and Darshana Zaveri will join the board.
The company intends to use the funds to conduct several prospective clinical trials, including a pivotal trial in the United States, in preparation for market entry.
Founded by Incept LLC in 2017 and led by Amar Sawhney, CEO, Instylla provides the Hydrogel Embolic System (HES™), a water-based liquid that when injected into vessels via standard catheters, effectively fills the target vessels and solidifies into a soft, occlusive hydrogel embolic. This results in immediate and persistent flow stasis. The hydrogel embolic is designed to be absorbable.
The Instylla HES is not approved for sale in the United States.
FinSMEs
15/10/2020