MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Vivasure lands $18m Series C

Vivasure lands $18m Series C

By

VIvasureIreland-based Vivasure Medical said today it raised $18.3 million (EU €16.2 million) in a Series C round of financing, with funding slated to support the European commercialization of its PerQseal technology platform.

The Series C round was led by Life Sciences Partners of The Netherlands, invested from its LSP Health Economics Fund, and was co-led by Evonik Venture Capital and Panakes Partners. The round was also joined by returning Series A and B investors led by Ireland’s Fountain Healthcare Partners.

“Patients with aortic valve stenosis, abdominal aortic aneurysms and other serious conditions are increasingly treated with minimally invasive percutaneous procedures. The Vivasure closure device is designed to be easy to use, allowing the surgeon and interventional physician to provide a complete repair at the access site, without leaving metal implants, sutures, or exogenous tissue behind. Our goal is to facilitate improved therapeutic results for patients over the open-surgery alternative, faster recovery times, and cost savings for the healthcare system,” CEO Gerard Brett said in prepared remarks.

Funds from the round will go towards supporting the commercialization of PerQseal tech and to support an FDA regulatory study as the company seeks regulatory clearance.

“We are excited to support this innovative company and its vision of improving outcomes for patients as it moves into commercialization in the European Union and enters the United States. We look forward to working closely with Vivasure as the company continues to work toward gathering more data through clinical studies that will facilitate expansion of adoption in European markets and drive U.S. approval and commercialization of its first product,” LSP partner Anne Portwich said in a press release.

The company won CE Mark approval in the European union for its bioabsorbable percutaneous vascular closure device for large-bore femoral arteriotomies based on the PerQseal platform in January.

The closure device is the 1st from the company’s PerQseal platform, and Vivasure claims its the only approved bioabsorbable, sutureless synthetic option to close large arteriotomies that result from percutaneous transcatheter procedures.

The closure device includes a delivery system and single-use patch-like device, the company said. Approval came based at least partially on clinical studies which reported 97% device technical success with no major device-related complications.

The device is designed to close arteriotomies, or punctured holes in vessels in the groin used during catheter based procedures. Vivasure’s device provides an alternative to traditional repair via suture.

In case you missed it

RSS From Medical Design & Outsourcing

  • How Boston Scientific is managing labor shortages with cobots and Spanish
    Boston Scientific (NYSE: BSX) executives said two labor-shortage strategies are paying off in a big way for the medical device maker, which has around 41,000 employees across the globe. Collaborative robotics and Spanish-speaking shifts are helping Boston Scientific deal with labor shortages in the U.S. and elsewhere. That’s according to Global Operations EVP Brad Sorenson… […]
  • 6 power management considerations for developing and scaling smaller, smarter micromedical devices
    Supercharge every phase of micromedical device product development with these questions. Mitch Johnson, Intricon Some of the biggest considerations for designing, manufacturing and scaling today’s smaller, smarter medical innovations center on providing power to microelectronic systems. From mechanical functionality to data operations and wireless communications, effective power management drives continued device innovation. Addressing five fundamental… […]
  • Evonik, Coopmed agree on wound dressing distro deal
    Evonik announced today that it signed an agreement for medical technology company Coopmed to distribute the epicite wound dressing. Jena, Germany-based Evonik said Coopmed will distribute the epicite dressing made from biosynthetic cellulose exclusively to the German market for chronic wound care. Epicite represents part of the portfolio from JeNaCell, which Evonik acquired in 2021.… […]
  • Spartech hires Bosch VP Dan Gallo as chief operating officer
    Spartech today said it hired Dan Gallo as chief operating officer of the engineered thermoplastics and custom packaging manufacturer. Gallo started this month, according to his LinkedIn page. His career leading operations, supply chain and logistics functions spans more than three decades. He was most recently an operations VP at Robert Bosch. Before his time… […]
  • 3M launches Verify platform to spot counterfeit products
    3M (NYSE:MMM) announced today that it established a new 3M Verify platform to report potential counterfeit 3M products. The effort builds upon its anti-counterfeit efforts during the height of the COVID-19 pandemic. At the time, a number of sellers claimed to offer 3M respirators. Instead, many offered fake, defective and damaged N95 masks at inflated… […]
  • FDA will review fewer COVID-19 test EUA submissions
    The FDA is pushing COVID-19 test developers away from emergency use authorization (EUA) submissions in favor of more traditional pathways, the agency said today. The FDA said it intends to review “only a small subset” of new EUA submissions, encouraging test makers to seek regulatory approval through de novo classification or 510(k) clearance pre-market review… […]
  • Integra plans to shrink the C-suite after executive’s exit
    Integra Lifesciences (Nasdaq: IART) will eliminate the position of chief operating officer next week — though the office is already empty. Former COO Glenn Coleman’s last day at Integra was Friday, according to a separation agreement filed with the Securities and Exchange Commission that same day. Coleman was scheduled to start as the new EVP and… […]
  • Steris plans to build a new medical device testing facility
    Steris (NYSE: STE) plans to build a new packaging and microbiological testing facility for medical devices in Leipzig, Germany. The facility will offer packaging testing services such as accelerated and real-time aging, transportation and integrity testing. The new location will also offer microbiological testing in collaboration with the medical device manufacturer and sterilizer’s laboratory in… […]
  • 10 medical device startups you need to know
    Some of the most interesting medical device startups of 2022 are advancing a wide range of innovative medtech: robotics, catheter-delivered brain-computer interfaces and more. The editors here at Medical Design & Outsourcing and MassDevice are writing about medical device startups all the time. But there are some device companies starting out that have technologies that… […]
  • Steris stock downgraded as analysts expect lawyers to seek more ethylene oxide lawsuits
    Steris (NYSE: STE) stock was downgraded today by Needham from buy to hold following the $363 million jury verdict against its primary competitor, Sterigenics, over ethylene oxide (EtO) emissions. Needham analysts said they expect attorneys to target communities near EtO facilities with ads to find people willing to file more lawsuits against sterilization plant operators… […]
  • Researchers develop at-home device to track Parkinson’s progression
    Researchers at MIT and the University of Rochester Medical Center have developed a device to monitor a Parkinson’s patient at home. Collecting data at home could help provide a less subjective measurement than evaluations at the doctor’s office, which can be affected by outside factors. The technology could also help pharmaceutical and biotech companies developing… […]