NuCryo Vascular, the manufacturer and marketer of the PolarCath Balloon Dilatation System, announced today that the company is raising a Series B round of financing and is launching its Extended PolarCath Balloon Dilatation Catheter.
The Series B financing will provide the necessary working capital to support the expected rapid growth of the PolarCath Balloon Dilation System while reaching corporate profitability in 2019. “Our supply chain has been optimised to meet our growing forecast, so the Series B financing round is critical as we prepare to scale in 2019,” said Kevin Beedon, general manager and executive vice president of NuCryo Vascular. “Scaling the operation will allow us to meet the growing demand for our system while lowering costs for our customers.”
The company is also launching its PolarCath Extended Catheter. “The extended catheter launch is a huge milestone for NuCryo Vascular as it not only improves the efficiency of our internal manufacturing process, but it also reduces inventory and costs to our expanding and loyal customer base,” stated Tri Tran, manager of operations for NyCyro Vascular. “The extended catheter launch improves our manufacturing capacity by nearly 50 percent, which is critical as we ramp up to meet the increased demand.”
The PolarCath Peripheral Dilatation System received US Food and Drug Administration (FDA) clearance in 2002 to dilate stenosis in the peripheral vasculature (iliac, femoral, popliteal, infrapopliteal, rena and subclavian arteries) and for the treatment of obstructive lesions of polytetrafluoroethylene (PTFE) access grafts or arteriovenous dialysis fistulae. The PolarCath System is also indicated for post-deployed stent expansion of self-expanding peripheral vascular stents.
“I am very excited for the PolarCath Extended Catheter as it provides a safe and effective anti-restenotic alternative to other currently available treatment options,” said Van Crisco, an interventional cardiologist from First Coast Heart & Vascular Center (Jacksonville, USA). “The extended catheter will not only make an already easy-to-use system easier, but by lowering the cost to the customer, it enhances the position of the PolarCath system in my peripheral treatment algorithm in the hospital as well as the office-based lab.”
The system is an angioplasty balloon that combines mechanical angioplasty and precise cryotherapy for the treatment of peripheral arterial disease. The PolarCath balloon has been used in over 270,000 procedures since its initial launch in 2002.