A medical device company developing an implant for optimized angioplasty to treat peripheral artery disease has raised $2.5 million since September.
The device is a permanent implant that would tack up the plaque blocking or restricting blood flow. The plaque would be tacked up along the walls of the relevant blood vessel, providing for better blood flow.
Carol Burns, the CEO of Intact Vascular in Wayne, Pennsylvania, told MedCity News the money raised will go toward funding clinical trials for the implanted device in Europe where it is seeking a CE Mark. It will conduct two clinical trials over the next 18 months because the device comes in two different sizes. Then, the company will embark on clinical trials to seek approval from U.S. regulators.
Angioplasty is a procedure that uses balloons to widen narrowed or obstructed blood vessels. In the case of peripheral artery disease, the blood vessels can be located in the abdomen, legs or kidneys. Peripheral artery disease affects 8 million to 12 million people in the United States, particularly those over the age of 50.
The device was developed by Robert Giasolli and Dr. Peter Schneider, a vascular surgeon.
Burns previously worked for Embrella Cardiovascular, a medical device company acquired by Edwards Lifesciences in a $43 million deal last year.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
