Israel-based Angioslide closed a $6.3 million Series C financing round led by TriVentures, a venture capital fund specializing in medical device technology investments, aimed at expanding its technology in the U.S.
Also participating in the round was return investor’s Viola Partners, Agate and XT Investments, according to the company.
"Proceeds from this Series C round will be used to continue US market expansion, improve our product offering and validate the technology in additional vascular beds," Angioslide CEO Lihu Avitov said in prepared remarks.
More than 10 million people suffer from peripheral artery disease in the U.S., the company said, and Angioslide last July performed 1st successful deployment of its Proteus peripheral artery disease device for below-the-knee vasculature.
The company’s Proteus device, which combines PTA balloon, removes embolic particles for the peripheral vascular disease and helps physicians improve procedural outcomes, according to the press release.
The co-founder & managing partner of TriVentures Michal Geva said the investment was one of the company’s 1st in which the clinical, regulatory and commercial challenges are mitigated.
The Proteus device is the 1st of its kind to receive FDA clearance for use in lower limbs and has CE Marked approved in the European Union, according to Angioslid.