Inari Medical said today it closed a $12.4 million Series B financing round to fund continued product development and studies of its FlowTriever thrombectomy system.
The round was led by members of the board of directors and returning Versant Ventures and U.S. Venture Partners, as well as several medical device industry veterans, the Irvine, Calif.-based company said.
“We are very pleased to complete this financing with the support of new and existing investors. These funds will allow us to significantly enhance company value with continued product improvements and clinical studies that demonstrate the value of the FlowTriever retrieval/aspiration system in several markets with important unmet needs,” CEO Bill Hoffman said in a press release.
The FlowTriever is an FDA approved catheter-based thrombectomy device designed to remove clots in the peripheral vasculature, Inari Medical said. The device won FDA 510(k) approval in February and was used to treat its 1st patient in March, the company said.
“Inari’s approach to emboli retrieval is novel. It provides the interventionalist with a tool that can substantially reduce the need for thrombolytics, which carry unacceptably high risk for many patients,”co-founder and chairman Bob Rosenbluth said in prepared remarks.