Vascular Dynamics Inc. (VDI), a Mountain View, California-based medical device company providing minimally invasive solutions for the treatment of refractive or resistant hypertension, raised $8.425m as the first tranche of its Series B financing.
The round totals $16.85m and the remaining $8.425m is to be invested following the achievement of certain clinical milestones.
The round was led by HBM Healthcare Investments, with participation from existing investors Rainbow Medical, the MedFocus Funds, and an undisclosed existing investor with over a billion dollars of assets under management. In conjunction with the financing, Thomas Thaler, investment advisor at HBM Healthcare Investments, will join VDI’s Board of Directors.
The company intends to use the funds to advance its clinical trial program (MobiusHD™) for the treatment of resistant hypertension both in the United States and in Europe.
Led by Robert Stern, President and Chief Executive Officer, VDI is conducting clinical trials in the U.S. and Europe to evaluate the safety and performance of the MobiusHD™ device, a catheter-delivered nitinol implant delivered endovascularly to the carotid sinus, an area located near the junction of the common carotid, external carotid, and internal carotid arteries and designed to amplify the signaling received by the arterial baroreceptors surrounding the carotid sinus, causing peripheral blood vessels to dilate, thereby reducing blood pressure.
To date, the company has raised a total of $23m in its Series A and Series B financing rounds.
FinSMEs
08/01/2015