Ablative Solutions, Inc., a Kalamazoo, MI-based company that develops and markets proprietary, endovascular catheters to provide an alternative to surgical renal denervation for the treatment of hypertension, has completed a $5.3m Series A financing.
The round was led by BioStar Ventures and the Michigan Accelerator Fund, with participation from some angel investors.
The company intends to use the funding, which includes the conversion of the bridge financing completed earlier this year, to develop its technology platform.
Led by Dr. Vartan Ghazarossian, President and COO, and Dr. Tim Fischell, CEO and CMO, ASI is developing a different approach to Renal Denervation, a new therapy that addresses hypertension and other diseases related to overactive sympathetic nerve activity.
The company has developed a device that targets treatment directly to the nerves that encircle the renal artery, without damaging the artery wall – a solution that ASI calls PeriVascular Renal Denervation (PVRD™).
Ablative Solutions also has offices in Menlo Park, CA