Irish investors have freed up $3.8 million for a Galway startup developing a new technique aimed at shutting down blood flow to arteries during minimally invasive procedures.
EndoShape is in the process of raising $6.8 million in the latest reported funding round for the minimally invasive vessel occlusion devices maker.
EndoShape is just shy of its fundraising goal by a slim margin, bringing in $898,000 in a fundraising round.
The Boulder, Colo.-based medical device company develops devices for the coil embolization and occlusion market. The company won 510(k) clearance from the FDA for its Medusa Vascular plug, and EndoShape plans to commercialize the product later this year.
Reverse Medical this month won 510(k) clearance from the FDA for its MVP-5 micro vascular plug system.
The MVP-5 is indicated for the treatment of peripheral vessel embolization. The vascular plug is designed to obstruct or reduce the rate of blood flow in the peripheral vasculature, particularly in vessels measuring between 3.0 and 5.0 mm, according to a press release.
One of Covidien plc’s (NYSE:COV) pending acquisitions won some good news from the Food & Drug Administration after it granted ev3 Inc. (NSDQ:EVVV) an expedited review of its Pipeline embolization treatment for cerebral aneurysms.
Plymouth, Minn.-based ev3 said the FDA agreed to consider the pre-market approval application it filed May 18 for the device, which is designed to treat large, giant and wide-necked brain aneurysms. The federal watchdog agency granted the company an expedited review and processing of the PMA.