#USA #Minneapolis #Vascular Care #VentureMed Group #FLEX Vessel Prep

VentureMed Group Secures $28 Million in Series C Funding

VentureMed Group, Inc., a prominent player in the medical device industry, has officially announced the completion of a significant $28 million Series C funding round. This investment round was spearheaded by S3 Ventures, with participation from existing investors, including Endeavour Vision. The primary aim of this funding is to accelerate the commercial adoption of VentureMed's FLEX Vessel Prep™ System, which is making waves in the treatment of peripheral arterial disease (PAD) and arteriovenous fistulas and grafts (AVF, AVG).

Denis Harrington, President and CEO of VentureMed, expressed gratitude towards the company’s supporters, stating that this financial backing symbolizes a strong confidence from investors in both the FLEX system and the overall mission of the company. This infusion of capital will not only help bolster the commercial infrastructure of VentureMed but will also enhance its clinical programs and stimulate the development of new products, particularly in adjacent vascular applications.

Brian R. Smith, Managing Director at S3 Ventures, highlighted the transformational potential of VentureMed’s technology in overcoming chronic challenges in vascular access. The partnership between S3 Ventures and VentureMed is essentially a synergy aimed at delivering breakthrough treatments to patients in dire need of improved vascular therapies.

As global health issues related to vascular diseases continue to proliferate, driven largely by rising obesity, diabetes, and hypertension rates, the need for effective treatments becomes ever more pressing. It's estimated that more than 20 million Americans and over 200 million people worldwide suffer from PAD. Furthermore, complications stemming from stenosis and vessel dysfunction contribute significantly to access failure among dialysis patients.

The FLEX Vessel Prep™ System was engineered to enhance vessel compliance, mitigate trauma, and ultimately yield superior long-term outcomes for patients. Dr. Ari Kramer, a General Surgeon at Spartanburg Medical Center, noted the increasing importance of lesion preparation procedures in achieving better patient outcomes. This funding represents a critical landmark which will assist the company in further clinical research and in expanding treatment options.

With its impressive track record, the FLEX system is already FDA 510(k) cleared and possesses CE Mark approval. Additionally, it is backed in the U.S. by a dedicated CMS HCPCS code (C1600) which provides transitional pass-through payment, showcasing its strong position within the vascular care landscape.

Alexander Schmitz, a Partner at Endeavour Vision, reinforced the significance of this technology by emphasizing its ability to reduce the necessity for repeat medical interventions, which not only enhances patient health outcomes but also aligns with the ongoing transition toward value-based healthcare. The continuation of Endeavour Vision’s support empowers VentureMed to extend its reach and improve access to this vital therapy.

The FLEX Vessel Prep™ System stands as a pioneering solution in the market. Employing the proprietary Kinetic Endovascular Micro-incision Creation (KEMIC) technology, it is designed to optimize vessel preparation distinctly compared to traditional balloon-based methods that exert static pressure. The unique design of FLEX promotes controlled motion and dynamic vessel engagement, refining the preparation process to yield long, precise micro-incisions. This innovative approach could potentially enhance drug uptake in combination therapies and reduce trauma to the vessel, lowering the risk of restenosis in patients.

With this latest round of funding, VentureMed is poised to redefine vessel preparation in general and expand treatment options for vascular diseases on a global scale. The company’s commitment to elevating patient care through innovative medical technology remains steadfast as it progresses towards its goals.

For further insights and updates on VentureMed's pioneering technologies, visit VentureMed Group.