Aptus completes $15m series AA financing

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Medical technology firm Aptus Endosystems have announced the completion of a $15 million series AA financing.

Aptus is currently developing the Aptus Endovascular AAA Repair System, which includes both a proprietary Endograft and the revolutionary EndoStapling System. The Repair System provides a durable alternative to open surgical repair by separating the functions of aneurysm exclusion and endograft fixation.

 

The deal comes in the wake of several achievements this year for the company, including obtaining the CE mark for the Endovascular AAA Repair System, continuing clinical activity in Europe, and completing the STAPLE-2 US clinical study.

 

Proceeds from the financing will be used to advance clinical and commercial development in Europe and continue the US regulatory processes related to the Aptus EndoStapling System as both a stand-alone product and as part of the Aptus Endovascular AAA Repair System. The company is also pursuing development for a thoracic aortic aneurysm (TAA) repair system and further innovation of its abdominal aortic aneurysm (AAA) repair system.

 

Aptus’s new leadership team, headed by CEO Jeff Elkins, possesses deep and direct domain experience in endovascular aneurysm repair. Key members of the group have led the development and commercialization of market leading endograft platforms and Mr. Elkins believes that their track record of success will continue at Aptus.

 

“Subsequent to completing our first series of EndoStapling System cases in Europe, we are pleased to receive additional financial support from our venture capital investors,” he commented. “Their continued support reflects the strong interest in our technology as well as their confidence in the new Aptus team. We look forward to accelerating our clinical and commercial efforts in order to bring our novel Aptus Endograft and EndoStapling System to patients in need of low profile delivery without compromises in device design, fixation, and treatment durability.”

 

Marc Galletti, managing director at Longitude Capital, confirmed his firm’s satisfaction with Aptus’s progress. “We are pleased to continue our on-going support of the company,” he said.