VenoStent, Inc., a Houston, TX-based clinical-stage medical device company developing a novel therapeutic device for improving dialysis patient outcomes, closed an additional $4M from Norwest Venture Partners to round out its Series A financing at $20M.
Good Growth Capital and IAG Capital Partners co-led the deal. Norwest General Partner Dr. Zack Scott and Investor Dr. Ehi Akhirome are joining the company as board observers. In addition, the company was awarded a $3.6M Small Business Innovation Research (SBIR) Phase II Grant by the National Institutes of Health (NIH), which will help fund its multi-center, 200-patient, randomized controlled trial (RCT) in the US.
Led by Tim Boire, Ph.D., CEO, amd COO and Geoffrey Lucks, COO, VenoStent is a therapeutic medical device company that has developed a bioabsorbable perivascular wrap, SelfWrap, that goes around arteriovenous (AV) access sites at the time of AV fistula creation surgery. The bioabsorable wrap is intended to accelerate the usability and increase the durability of the fistula sites for chronic kidney disease (CKD) patients requiring hemodialysis. It uses the body’s own healing mechanisms to mimic the arterial environment in veins, which experience an increase in pressure and flow during AV creation and causes the veins to become unusable in dialysis.
FinSMEs
27/06/2024