Israeli medtech start-up Laminate Medical Technologies said today that it raised $12 million in a new round of financing slated to support its VasQ vascular support device.
The company’s VasQ device is designed to aid kidney failure patients in need of dialysis by providing external support to reduce fistula failure.
The VasQ regulates flow by constraining and shaping optimal geometrical parameters of the fistula, the company said, and reinforces and shields the vulnerable perianastomotic vein against high pressure, wall tension and flow levels.
“We are so happy to be a part of the company’s journey. I believe VasQ has a high potential to become the standard of care for vascular access surgery,” Asahi Kasei Medical prez Takeshi Himeno said in a prepared statement.
The company said that it recently launched U.S.-based clinical trials of the VasQ system as it seeks FDA approval of the device. The system already has CE Mark approval in the European Union.
“After the success of treatments in Europe, including application of the device in hundreds of patients in Germany and other European countries, we are now preparing to enter the American market. We have completed the infrastructure for this, and are working in cooperation with leading hospitals across the USA to carry out the necessary clinical trials for FDA approval. The current round is an important expression of faith on the part of the existing investors, and a significant boost from investors with experience in a variety of fields, who understand the need for the solution and the answer that it provides for dialysis patients. Furthermore, the fact that Asahi Kasei Medical has joined us as an investor in the company gives us an important advantage for a future entry into the Japanese market,” Laminate co-founder & CEO Tammy Gilon said in a press release.
In February 2017, Laminate Medical said that it raised $8 million Series B financing round to support the VasQ device.