Averto Medical, a San Francisco, CA-based clinical-stage medical device company, raised $30M in Series A funding.
The round was led by Cormorant Asset Management with participation from Venrock Healthcare Capital Partners, LifeSci Venture Partners, CVF, and other investors. In connection with this financing, Averto Medical announced that Ken Song, MD will serve as Executive Chairman with Dan Puckett and Bihua Chen joining the board of directors.
The company intends to use the funds to support the growth of its clinical testing of the ColoSeal™ intraluminal diversion system towards regulatory approvals.
Led by CEO and Founder Kenton Fong, Averto Medical, formerly known as Savage Medical, is a clinical-stage medical device company dedicated to transforming gastrointestinal care. Its first product, the ColoSeal™ intraluminal colonic diversion system, enables procedures such as colorectal cancer resection without the need to create an invasive temporary diverting stoma. Early clinical data has already shown promising results to address this multi-billion dollar market opportunity.
FinSMEs
07/05/2024