VESTECK, Inc. Continues to add investors, BioAdvance and Angel Star Ventures Increase Series A investment to >$5.2M
WEST CHESTER, Pa., Sept. 16, 2021 /PRNewswire/ -- VESTECK, Inc., an early-stage medical device company, is pleased to announce the additional close of funds totaling >$5.2M of Series A financing, which includes conversion of all existing convertible notes.
Philadelphia area investors BioAdvance ( https://www.bioadvance.com/ ) and Angel Network ( https://angelstarventures.com/ ) Kennett Square, PA lead these additional investments, joined by several other investors.
The Series A funds will support the manufacturing of products, pre-clinical testing and completion of in human procedures, prior to our clinical study for FDA clearance.
VESTECK has designed a platform technology comprised of 6 devices that integrate the delivery of nitinol sutures into a catheter, improving clinical outcomes for endovascular aortic aneurysm patients.
Dr. Rick Jones, BioAdvance Partner said, “BioAdvance is very excited to support the VESTECK “Suture-Tight” technology and team. We appreciate that VESTECK is answering a significant global unmet need for patients and physicians.”
The “Suture-Tight” catheter delivers nitinol sutures more easily than current endovascular or surgical options, securing endovascular aortic repair grafts to the aorta at initial implant or in repair procedures.
Dr. David H. Deaton, Chief Medical Officer, says, “the Suture-Tight catheter makes the process faster, easier and safer for physicians and patients. Suture-Tight will become the standard of care in EVAR.”
Vesteck expects to bring significant incremental revenue to an aortic repair market projected to be $4.5B by 2028.
VESTECK CEO Joe Rafferty stated, “We are absolutely honored that our $3.5M Series A round has been over subscribed to this extent, a further recognition of this significant opportunity.”
About Vesteck Inc.:
VESTECK, Inc. ( WWW.VESTECK.com ) is an early-stage medical device company focused on bringing their proprietary technology to the aortic repair, structural heart and GI markets.
Their first product, the “Suture-Tight” nitinol suture delivery catheter will bring a novel technology to endovascular aortic repair market solving a significant global challenge for physicians and patients.
VESTECK was represented by Kevin M. Granahan of Fox Rothschild LLP
BioAdvance VESTECK, Inc.
Dr. Frederick Jones Joe Rafferty
(508) 314-5347 610-457-7324
SOURCE VESTECK, Inc.