#USA #Minneapolis #Medical Devices #VentureMed Group #FLEX Vessel Prep

VentureMed Group Secures $28 Million in Series C Funding

VentureMed Group, Inc., a prominent medical device company based in Minnesota, has announced a significant milestone in its financial journey. The company closed a $28 million Series C funding round led by S3 Ventures, with support from existing investors like Endeavour Vision. This funding aims to accelerate the adoption and commercial expansion of their innovative product, the FLEX Vessel Prep™ system, designed for vascular access and management technologies.

Importance of the Funding

Denis Harrington, the CEO and President of VentureMed, expressed gratitude for the ongoing support from existing investors and welcomed new partners to the funding syndicate. He noted, "This substantial funding underscores investor confidence in the FLEX Vessel Prep system and our mission to strengthen VentureMed's position in global vascular care."

This infusion of capital is not only meant to broaden the company’s commercial infrastructure but will also enhance VentureMed's clinical program and support the development of new products that cater to adjacent vascular environments. The need for innovative solutions in vascular access is becoming increasingly urgent, as vascular disease prevalence rises worldwide.

Addressing Critical Health Challenges

Vascular diseases pose a growing global burden, exacerbated by rising obesity, diabetes, and hypertension rates. In the U.S. alone, over 20 million people suffer from Peripheral Arterial Disease (PAD), while more than 200 million people are afflicted globally. Stenosis and dysfunction in blood vessels continue to be leading causes of access failure for dialysis patients, highlighting an essential need for effective solutions.

The FLEX Vessel Prep system was strategically developed to improve vessel compliance, minimize trauma, and foster better long-term outcomes for patients. Dr. Ari Kramer, a general surgeon at Spartanburg Medical Center, commented on the critical role of lesion preparation in enhancing patient outcomes, stating, "The FLEX system is at the forefront of AV access interventions. This funding represents a crucial step for the company in obtaining further clinical evidence and expanding its indications."

Regulatory Approvals and Technological Edge

The FLEX system has already achieved significant regulatory milestones, receiving FDA 510(k) clearance and CE marking approval. Furthermore, it is backed by a dedicated CMS HCPCS code (C1600) with transitional payment availability in the U.S., which positions it favorably to redefine vessel preparation practices and potentially expand treatment options worldwide.

Alexander Schmitz, a partner at Endeavour Vision, emphasized the importance of this technology. He stated, "The ongoing cycle of stricture and surgical re-interventions in vascular diseases poses a substantial burden on both patients and healthcare systems. Technologies that reduce the need for re-interventions not only improve outcomes but also align with the shift towards value-based care. We are thrilled to continue supporting VentureMed as it broadens access to this vital therapy."

About the FLEX Vessel Prep System

VentureMed Group is steadily advancing the landscape of medical devices, focusing on endovascular solutions for vascular access and interventions related to peripheral arterial disease. The FLEX Vessel Prep™ system utilizes a proprietary technology known as Kinetic Endovascular Micro-incision Creation (KEMIC) to optimize vessel preparation. Unlike traditional balloon-based approaches that rely on static pressure, KEMIC employs controlled movement and dynamic vessel apposition to create long, precise micro-incisions, which can enhance drug absorption in combination therapies while minimizing vascular trauma, ultimately reducing the risk of restenosis.

For more in-depth information about VentureMed and its groundbreaking technologies, visit www.VentureMedgroup.com.

Conclusion

VentureMed Group's latest funding round marks a pivotal moment in its growth trajectory as it seeks to address the rising challenges posed by vascular diseases. With an innovative approach to vessel preparation and strong investor backing, the company is poised to make significant strides in improving patient care and outcomes in the vascular health domain.