Venclose, Inc., a San Jose, CA-based medical device company focused on innovative treatment procedures for venous reflux disease, closed a $27m Series C funding.
The round was led by Ally Bridge Group (ABG), a global life science-focused group supporting high-growth innovative life science companies.
The company intends to use the funds to accelerate its commercial footprint in the US, expand globally, and invest in selective product portfolio additions.
Led by Chairman and CEO Jerry Gibson, Venclose is a commercial-stage medical technology company developing next-generation solutions for the treatment of venous reflux disease, also known as chronic venous insufficiency (CVI). CVI is a progressive medical condition affecting more than 40 million adults in the United States alone.
The VENCLOSE RF Ablation System, designed to close the damaged vein and restore healthy blood flow, is commercially available in the United States and Europe.