Neograft Technologies

Devices & Diagnostics

Cardiac device maker Neograft raises $3 million

Cardiac device maker Neograft Technologies is developing new innovative medical devices focused on coronary artery bypass graft surgery, a procedure in which a blood vessel is typically removed from a patient's arm or leg and placed around a blockage in the heart to "bypass" the blockage and restore blood flow. The implanted blood vessel is called a graft. If the Angioshield is proven to be effective, its potential market is very large. About half-a-million coronary artery bypass surgeries are performed annually in the U.S. In addition, there are approximately 80,000 lower extremity bypass graft surgeries performed each year in the country. Revenue generated by products in the procedures totals about $1.6 billion annually, according to the company.