New Jersey medical device maker Vascular Therapies just raised $16.2 million of a potential $27 million, according to a regulatory filing. The funding comes from 30 investors.
The company’s kept fairly low profile – it was launched in 2001, but has no real web presence. An old press release says the company is developing a “patented, drug-eluting biocompatible biodegradable collagen implant intended for intra-operative per-vascular implantation to address the problem of vascular anastomosis failure.”
The company has applied its technology – called COLL-R – to deliver sirolimus locally to the wall of a blood vessel during hemodialysis transplant surgery, according to a 2012 paper.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
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It last raised funds – a $5 million Series E round – in 2011. But this most recent equity round is pretty impressive for such a low-profile startup. A call to CEO Sriram Iyer has yet to be returned – but stay tuned for more.
