InterVene Inc., a South San Francisco, CA-based developer of a catheter-based system to correct deep vein valve failure, raised $15m in Series B financing round.
The round was led by new investor 3×5 Partners, who was joined by prior investors RiverVest Venture Partners®, Boston Scientific Corporation (NYSE: BSX), Correlation Ventures and others.
The company will use the funds to expand its clinical research program abroad, and to initiate trials in the U.S. via an Investigational Device Exemption study.
Led by CEO Fletcher Wilson, COO Jeff Elkins, and VP clinical affairs Tracy Roberts, InterVene is advancing the BlueLeaf® Endovenous Valve Formation System, a catheter-based solution for deep vein reflux (DVR) — the failure of venous valves in the legs — that does not require an implant.
The system is designed to correct one of the underlying causes of chronic venous insufficiency (CVI) by forming new vein valves out of a patient’s own vein wall tissue.