In a Series D financing round, Ireland-based vessel closure device company Vivasure raised $23 million to advance clinical development and regulatory approval for its absorbable, patch-based, percutaneous vessel-sealing technology.
Utilized during endovascular and cardiovascular procedures, the “PerQseal” technology uses a synthetic implant to seal a vein or artery from inside. While other existing solutions leave behind materials such as collagen, sutures, or metal implants, Vivasure’s synthetic implants were designed to return an artery or vein to its normal state without leaving any remnants behind.
“While tremendous progress has been made for minimally invasive structural heart procedures, vascular issues related to the closure of the procedure remain the most common complication of these interventions,” said Azeem Latib, MD, section head and director of interventional cardiology and director of structural heart interventions at Montefiore Health System, in a statement about the funding.
In addition to improving patient outcomes, Latib noted that the tools are also designed to enhance procedural efficiency.
In addition to its signature PerQseal product, which is the first suture-free and fully absorbable product for large-bore arterial vessel punctures, the company also makes two related products: PerQseal+ and PerQseal Blue. The former includes an enhanced bioabsorbable patch designed to address more complex patient anatomies, and the later is designed to close veins as opposed to arteries.
Currently, PerQseal is available to physicians in Europe but not in the United States. PerQseal+ and PerQseal Blue are still awaiting approval in both the U.S. and Europe.
The Series D funding round could eventually reach up to $54 million in total and includes an option to buy the company if it reaches certain milestones. Led by an unnamed multinational strategic corporation, the funding round also included a second strategic corporate investor as well as Fountain Healthcare Partner, Orchestra BioMed, LSP Health Economics Fund managed by the EQT Life Sciences team, Panakès Partners, and Evonik Venture Capital.
Related Vascular and Endovascular Content:
New bleeding stroke guidelines highlight several common treatments that may be ineffective
Carotid endarterectomy does not reduce long-term dementia risk