Israeli med device startup Laminate Medical Technologies has raised $8 million Series B financing round to support its VasQ blood vessel 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.”
The company has won CE Mark approval in the European Union for its VasQ device, and is pursuing FDA approval, according to a Globes report.
“The technique for fistula surgery has not changed since it was first performed in 1966. Given the high failure rate, a solution is needed that will prevent patients with kidney failure who are on dialysis from having to repeat the operation every few years, and in many cases even after a few months, which also affects their treatment. The current round will enable us to expand our activities in the European market, where we are already working successfully with leading hospitals in the UK, Switzerland, Italy and Germany, and at the same time complete clinical trials in the US and the FDA approval process. For this purpose, we are currently expanding our staff of experienced professionals in the field of medical devices, and opening a branch in the US,” CEO Tammy Gilon said, according to Globes.