Bay State startup Neograft closed an $11 million equity funding round in support of its vascular sleeve technology.
Neograft’s Angioshield device "creates a micro-fibrous, polymer sleeve intimately surrounding the outside surface of a harvested vein to mechanically reinforce and protect it from overdilation," according to the company. The technology is not yet approved for clinical use.
Neograft has quietly been raising funds for years, with a reported $21.3 million raised from January 2010 to September 2013. The newest funding round, which brings the total to $32.3 million, was launched at the beginning of this month and raised through the investments of 6 unnamed backers.