Intact Vascular announced Jan. 3 that it had received a total of $46 million in Series B financing.
Healthcare investment firms New Enterprise Associates (NEA), Quaker Partners and H.I.G. BioHealth Partners recently invested an additional $7.1 million during the round of financing, which had initially closed in May 2015.
NEA led the initial $38.9 million Series B financing, while Quaker Partners and H.I.G. BioHealth Partners co-led the $15.5 million Series A financing, which was announced in September 2012.
Peter Schneider, MD, a vascular surgeon from Kaiser Foundation Hospital in Honolulu, Hawaii, founded Intact Vascular in 2012. He is currently the company's chief medical officer.
Intact Vascular plans on using the Series B financing to invest in its Tack Endovascular System to treat peripheral artery disease and its clinical trial programs.
The Tack Endovascular System is not FDA-approved, but it has received a CE Mark and is available in Europe. The system is used to repair arterial dissections following percutaneous transluminal angioplasty.
Intact Vascular is currently sponsoring three trials that are evaluating the Tack Endovascular System to treat above-the-knee and below-the-knee peripheral artery disease.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.