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| Spiral Flow vascular graft--Courtesy of Spiral Flow Technologies |
Dundee, U.K.'s Vascular Flow Technologies has raised £10 million ($14.25 million) in support of its technology to restore natural blood flow through prosthetic vascular grafts, such as hemodialysis access catheters.
Vascular Flow makes the Spiral Flow Peripheral Vascular Graft and Spiral Flow Vascular Access graft, which deploy its spiral laminar flow (SLF) technology. But the company says the financing will enable to transition from a traditional device company to one focused on R&D, joint product development and outlicensing agreements with industry-leading companies.
It seeks to apply the SLF technology to other devices and claims to have R&D collaborations in focused on stents and hemodialysis access catheters.
"The realignment of the business supports VFT's natural evolution from an innovative Medical Devices Company, through to a tech transfer business. The £10 million secured in this investment round will make a significant impact on the transition, and allow us to continue to work with the key players in the sector to apply SLF technology to address unmet clinical needs in vascular and endovascular markets. In addition, the financing will enable us to build further clinical and health economic evidence for SLF technology."
Vascular Flow's financing consisted of a £7 million ($9.98 million) loan that was converted into Series A ordinary preference shares, £3 million ($4.28 million), and Series B capital increase led by an undisclosed family office and institutional and angel investors.
Among industry bigwigs, Medtronic ($MDT) has shown a strong interest in the endovascular stent graft market, with an eye on treating abdominal aortic aneurysms. Last year, it spent $110 million to acquire Aptus Endosystems, maker of the FDA-cleared Heli-FX, which deploys anchors to lock endografts to the aorta and permanently seal abdominal aortic aneurysms.
Shortly thereafter, the company invested in and gained the option to acquire Arsenal AAA, which is developing a foam and accompanying delivery mechanism to fill the aneurysmal sac around endografts.
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