Vessix Vascular, Inc. (formerly known as Minnow Medical), a Laguna Hills, California-based developer of novel percutaneous radiofrequency (RF) balloon catheter technology, has completed a $23m Series B financing.
The round was led by Edmond de Rothschild Investment Partners (EdRIP), with participation from OrbiMed Advisors, CDF Dinova Venture Partners and existing investors NeoMed Management, Christopher Weil & Company and Fjord Invest LLC.
In conjunction with the transaction, Raphael Wisniewski of EdRIP and Vince Burgess of OrbiMed, have joined Vessix’ Board of Directors.
The company intends to use the funds to accelerate product development initiatives and conduct a series of multi-center clinical trials to expand indications for its technology. Founded in 2003 and led by CEO Raymond W. Cohen, Vessix Vascular established a European subsidiary in Paris to support planned European clinical studies and anticipated commercial product launches.
The company’s initial product, the ZCath® System, has a CE Mark for use in reducing plaque in peripheral leg arteries.