Menlo Park, CA-based Crux Biomedical has completed a $12 million investment round led by Three Arch Partners and joined by current investors Alloy Ventures and Emergent Medical Partners. The company has developed an advanced implantable vena cava filter designed to address the complications seen with current VCFs.
"The Crux device represents the first significant design innovation since vena cava filters were introduced. Its design represents a radical departure from the traditional conical design and for the first time combines ease of placement with enhanced retrievability," stated Bill Harrington, partner at Three Arch Partners.
Crux began its Retrieve 2 U.S. clinical trial at 18 centers last year. The company is also conducting clinical evaluations in Europe and Australia/New Zealand and expects to complete patient enrollment shortly. Crux anticipates commercial availability in the first half of 2012.
Formed in 2004 by physicians Tom Fogarty and Frank Arko, Crux Biomedical was supported by venture backed funding led by Alloy Ventures and Emergent Medical Partners. Its mission is to develop a revolutionary retrievable inferior vena cava filter to prevent pulmonary embolism, according to its website.
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