Vascular stent maker Vesper Medical reels in $10.5M in series A round

Money
Vesper Medical, a developer of devices for minimally invasive peripheral vascular procedures, raised $10.5 million in series A financing. (jansucko/iStock/Getty Images Plus/Getty Images)

Vesper Medical, which focuses on developing devices for minimally invasive peripheral vascular procedures, raised $10.5 million in a series A round of financing.

The funds will be used by the Wayne, Pennsylvania-based company to complete the development of its Vesper Duo Venous Stent System and the in vivo testing needed to move to clinical testing of the device, the company said.

Participating in the financing, which was completed in two tranches, were New Enterprise Associates and Quaker Partners.

Whitepaper

Overcoming Risk in Oncology Drug Development

Oncology drug development is full of potential obstacles and risks, and you must carefully plan each step. Download this whitepaper for tips on finding the fast track. Premier Research. Built for Biotech.

Deep venous disease effects millions of people globally. Typical treatment includes using elastic compression stockings and blood thinners, but those don’t address the blockage or narrowing of veins.

“There are more than 25 million U.S. adults suffering the debilitating consequences of deep venous disease, and traditional treatments fall short for many of them,” Bruce Shook, president and CEO of Vesper, said in a statement. “We see an enormous opportunity to deliver a lasting solution for these patients that is tailor made to the unique requirements of the deep veins.”

Clotting or narrowing of the veins of the pelvis or upper leg can create blockages that reduce blood flow that can lead to symptoms such as severe leg swelling, pain, skin discoloration and even ulcers.

Read more on

Suggested Articles

The FDA approved the first spinal tether to correct the most common form of scoliosis—a ropelike implant that pulls the vertebrae into shape.

Agilent launched a new analyzer for research that observes cell behavior in real time while also collecting biosensor information.

Five years after Congress passed a law to reduce unnecessary MRIs and CT scans, federal officials have yet to implement it.