Veniti, Inc., a St. Louis, MO-based medical device company, closed on an equity and debt financing totaling over $17m.
The equity portion, its Series C, was led by previous investors Baird Capital and Tekla Healthcare and Tekla Life Science Investors. The senior secured debt portion was funded by Life Sciences Alternative Funding, a New York-based direct investment company.
The financing will be used to further the VIRTUS Trial for the VICI VENOUS STENT® system and worldwide commercialization efforts.
Founded in 2010 and led by Scott Solano, President and Chief Executive Officer, Veniti is an early-stage commercialization company dedicated to advancing the treatment of venous disease through clinical research and innovative technology and solutions. The company is currently developing the VICI VENOUS STENT System, which is CE marked under the European Medical Devices Directive (93/42/EEC) and commercially available in Europe and limited by United States law to investigational use.
It is intended for use in veins of the lower extremities and pelvis, including the iliac and common femoral veins, in patients who exhibit symptomatic venous outflow obstruction. This condition is frequently associated with disorders of the lower extremities, such as varicose veins and venous ulcers. These disorders affect hundreds of thousands of people around the world.
Veniti has technical operations in Fremont, CA.