Intact Vascular Announces $25 Million Financing with Vensana Capital to Drive Commercialization of the Tack Endovascular System®
WAYNE, Pa.–(BUSINESS WIRE)–Intact
Vascular, Inc., a developer of medical devices for minimally
invasive peripheral vascular procedures, today announced a $25 million
financing with Vensana Capital as the lead investor. Vensana was joined
by existing investors including New Enterprise Associates (“NEA”),
H.I.G. BioHealth Partners, and Quaker Partners. The Company reported
closure of the initial tranche of the financing, with the remainder
scheduled for draw down in 2020 as the Company ramps its
commercialization of the Tack Endovascular System.
Use of proceeds is mainly focused on expansion of sales, marketing and
clinical support staffing and initiatives following FDA’s recent
approval of the Tack Endovascular System for dissection repair after
balloon angioplasty above the knee. The Company is also preparing for
the release of data from its TOBA III and TOBA II BTK clinical studies
later this year.
“We are excited and proud to welcome Vensana Capital to the Intact
Vascular team as we make the transition to a company focused on rapid
commercial growth,” said Bruce Shook, President & CEO of Intact
Vascular. “The Vensana team brings a wealth of medtech experience to a
strong existing investor syndicate, and that combination will be a
powerful driver of our commercial success.”
Patients treated with balloon angioplasty frequently suffer from
dissections. Often overlooked, undiagnosed and untreated, dissections
can lead to acute thrombosis and arterial occlusions, which lower
long-term patency rates and require repeat procedures. Designed to
resolve these dissections while leaving minimal metal behind, the Tack®
implant is uniquely designed to preserve vessel integrity, minimize
vessel inflammation and enhance blood flow.
“Intact Vascular is at a true inflection point,” said Justin Klein,
Managing Partner at Vensana Capital. “The Intact team has developed a
unique technology and a strong clinical study portfolio that position
the company for significant commercial success. Vensana Capital is
thrilled to support Intact Vascular’s rapidly expanding
commercialization effort.”
About Intact Vascular and the Tack Endovascular System
Intact Vascular is a privately held medical device company that develops
minimally- invasive peripheral vascular products. The Tack Endovascular
System is designed to improve peripheral balloon angioplasty results in
the treatment of peripheral arterial disease. Pre-loaded with six
self-expanding nitinol devices for above-the-knee (ATK) or four for
below-the-knee (BTK) interventions, the Tack Endovascular System can be
deployed to treat multiple dissections using a single catheter and
leaving behind >70% less metal than stents1. Additionally,
the Tack Endovascular System is designed to minimize vessel
inflammation, promote healing, improve outcomes and preserve future
treatment options for PAD and critical limb ischemia (CLI) patients.
Visit www.intactvascular.com
for more information.
Intact Vascular Clinical Program
Intact Vascular is sponsoring three clinical trials to evaluate its Tack
Endovascular System: TOBA II, TOBA II BTK and TOBA III. TOBA II is
investigating the combination of the Tack implant with plain angioplasty
balloons and the BARD Lutonix® drug-coated balloon (DCB) in
arteries above the knee and has completed its primary endpoint analysis.
TOBA II BTK is investigating the combination of the Tack implant with
plain balloon angioplasty in the arteries below the knee and has
completed enrollment. TOBA III has completed enrollment in Europe and is
investigating the combination of the Tack implant with the Medtronic
IN.PACT™ Admiral™ (DCB), inclusive of long lesions.
About Vensana Capital
Vensana Capital is a venture capital and growth equity investment firm
dedicated to partnering with entrepreneurs who seek to transform
healthcare with breakthrough innovations in medical technology. Launched
in 2019, Vensana is actively investing in late development and
commercial stage companies across the medtech sector, including medical
devices, diagnostics, drug delivery, digital health, and tech-enabled
services. Vensana’s investment team has a history of successfully
partnering with management teams behind industry-leading companies
including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix
Therapeutics, Lutonix, Neuwave Medical, Sequent Medical, Topera,
Ulthera, and VertiFlex. Learn more at www.vensanacap.com
Forward Looking Statements
This press release contains “forward-looking statements” concerning the
development of Intact Vascular’s products, the benefits and attributes
of such products, and the company’s expectations regarding its
prospects. Forward-looking statements are subject to risks, assumptions
and uncertainties that could cause actual future events or results to
differ materially from such statements. These statements are made as of
the date of this press release. Actual results may vary. Intact Vascular
undertakes no obligation to update any forward-looking statements for
any reason.
1Bosiers M, Scheinert D, Hendricks JMH et al. Results from
the Tack Optimized Balloon Angioplasty (TOBA) study demonstrate the
benefits of minimal metal implants for dissection repair after
angioplasty. J Vasc Surg 2016;64:109-16.
Tack Endovascular System® and Tack® are registered
trademarks of Intact Vascular, Inc.
Lutonix® is a
registered trademark of BD Interventional.
IN.PACT® and
Admiral® are registered trademarks of Medtronic, Inc.
The
Tack Endovascular System® is CE Mark Authorized under EC
Directive 93/42/EEC.
Contacts
Intact Vascular, Inc.
Andrea Dunkle, 1-484-253-1048
