Intact Vascular said today that it raised a $25 million funding round for the Tack vascular closure device it won an FDA nod for last month.
The round was led by Vensana Capital, joined by existing backers New Enterprise Assoc., H.I.G. BioHealth Partners and Quaker Partners, the Wayne, Pa.-based company said. The first tranche of the financing is closed, with the remainder to come in 2020 as Intact Vascular ramps up commercialization for Tack, which won pre-market approval from the FDA in April.
The proceeds are earmarked for expanding Intact’s sales, marketing and clinical support operations, and for the release of data from a pair of clinical studies later this year. The company pulled in a $20 million Series C round in April 2018.
“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,” president & CEO Bruce Shook, who also leads Vesper Medical, said in prepared remarks. “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.”
“Intact Vascular is at a true inflection point,” added Vensana managing partner Justin Klein. “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.”
Earlier today Vensana also backed Vesper Medical and the Duo venous stent it’s developing.
