Oxford Endovascular, a British MedTech company, raised $10m in a series A funding round.
Backers included a £3m investment from new investors Vulpes Investment Management, who joined to lead the round and funds from the Additio Investment Group. Existing investors Oxford Sciences Innovation PLC, Parkwalk Advisors, Perivoli Innovations, Oxford Investment Consultants, the University of Oxford and private individuals also followed on.
The raise will enable the company to complete development work and gain first in-human data through an early feasibility clinical study. This will then be followed by a further fundraise for larger FDA and CE Mark clinical trials to enter various international markets valued at over $1billion.
Led by Mike Karim, CEO, Oxford Endovascular is developing a treatment for brain aneurysms. The company has developed a micro stent called OxiFlow™️, utilising ‘Origami’ engineering, which can be inserted into the brain blood vessels via minimally invasive groin access. It lies across the base of the aneurysm and causes it to shrink and heal.
The company is a spin-out from Oxford University.