Shape Memory Medical Inc., a Santa Clara, Calif.-based developer of custom shape memory polymers for endovascular markets, completed a $38m Series C financing.
The round was led by Earlybird Venture Capital with participation from new and existing investors including HBM Healthcare Investments (Cayman) Ltd., WexMed II LLC, HBM-Medfocus LLC, and Emergent Medical Partners II, L.P. Thom Rasche, Partner at Earlybird Venture Capital, joined the Shape Memory Medical Board.
The company intends to use the funds to accelerate the clinical and market development of shape memory polymer technology for aortic and peripheral vascular markets. The funds will support the execution of the AAA-SHAPE Pivotal Trial, a randomized controlled study comparing EVAR plus sac management with IMPEDE-FX RapidFill to stand-alone EVAR. The funding will also support the research and development of our product pipeline, and the expansion of sales and marketing strategies to address the increasing demand for the company’s commercially-available IMPEDE Embolization Plug family of devices.
Led by Ted Ruppel, president and CEO, Shape Memory Medical is dedicated to developing innovative therapeutic solutions with its proprietary shape memory polymers, with devices approved in more than 25 countries spanning regions in Asia, the Middle East, Europe, the Americas and Australia. Neurovascular embolization products include the TrelliX® Embolic Coil, which is CE marked for use in the EU. Peripheral embolization products include the IMPEDE® and IMPEDE-FX Embolization Plugs and IMPEDE-FX RapidFill® Device. In countries recognizing CE marking, the IMPEDE and IMPEDE-FX Embolization Plugs and the IMPEDE-FX RapidFill are indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature. In the United States, the IMPEDE Embolization Plug is indicated to obstruct or reduce the rate of blood flow in the peripheral vasculature, and the IMPEDE-FX Embolization Plug is indicated for use with the IMPEDE Embolization Plug to obstruct or reduce the rate of blood flow in the peripheral vasculature. The IMPEDE and IMPEDE-FX Embolization Plugs are PMDA approved in Japan. Caution: IMPEDE-FX RapidFill is an investigational device, limited by Federal (or United States) law to investigational use.
FinSMEs
04/03/2024