Nectero Medical Inc has announced the closing of its US$19.5 million Series C financing round, led by new investor Boston Scientific Corporation. Proceeds will support the company’s in vivo and clinical trials to develop a potentially disruptive treatment platform that stabilises small- to mid-sized aortic aneurysms by significantly reducing their growth rate.
A press release from the company states that Nectero’s initial application, the Endovascular aortic stabilisation treatment (EAST), has demonstrated impressive early clinical results suggesting the potential to dramatically inhibit abdominal aortic aneurysm (AAA) disease growth.
The EAST system is expected to prevent rupture and inhibit further degradation of the aortic tissue with a simple, one-time catheter-based procedure that locally delivers a proprietary compound and. The system is now treating AAA patients in a multisite Phase 1 safety study.
“For small- to mid-sized aneurysms, ‘active surveillance’ is the current standard of care,” said Jack Springer, CEO of Nectero Medical. “Unfortunately, these patients are not without risk of rupture, yet they are not eligible for treatments with surgical repair or endovascular grafts due to complications associated with these procedures. We expect our EAST system to satisfy this compelling unmet clinical need.”