Healionics Corporation, a Seattle, WA-based private medical device company, closed a $4.7M equity financing.
The round was led by Keiretsu Capital. The company also announced the conversion to equity of $5.2M in previously outstanding notes and interest.
Led by Mike Connolly, Chief Executive Officer, Healionics is preparing to commercialize its innovative STARgraft vascular graft, designed to provide a safer means to access the bloodstream for dialysis in patients with kidney failure. An initial human study was completed last year, and a follow-on human study is now in progress. The company intends to use the funds to complete this study and obtain FDA market clearance.
Healionics is a clinical-stage company addressing the need for means of bloodstream access to perform dialysis in patients with kidney failure. Its STARgraft vascular graft is designed to resist the problems of infection and occlusion suffered by current devices. The company also has a product pipeline based on its platform STAR® biomaterial, which has an ability to resist both infection and scarring, two problems that affect all implanted devices.