InterVene – a clinical-stage medical device company dedicated to developing interventional solutions for chronic venous insufficiency (CVI) – announced the closing of its $13 million Series A financing round. The funding was co-led by new investor Treo Ventures and existing investor RiverVest Venture Partners. In connection with this financing, Brad Vale (Treo Ventures founding general partner) has joined InterVene’s Board of Directors.
The proceeds from the round will fund the final development of the company’s Recana catheter system, initiation of clinical cases, regulatory submission, and market clearance in the United States. In addition, proceeds will support preparation for initial commercialization and post-market clinical research.
InterVene designed Recana to recanalize and restore patency in chronically obstructed deep veins and venous stents, particularly when recanalization capabilities are limited or when long-term chronic stent maintenance is necessary. And utilizing standard Fluoroscopy/IVUS guided interventional techniques, Recana can be easily incorporated by vascular specialists already performing deep vein thrombosis (DVT) treatment and deep venous stenting.
Over 15 million Americans have deep venous obstruction, which includes acute DVT and chronic post-thrombotic syndrome (PTS) etiologies. There are approximately 650,000 cases of DVT diagnosed in the U.S. each year.
KEY QUOTES:
“RiverVest and Treo Ventures have strong track records in emerging endovascular fields and InterVene is thrilled to have their support as Recana reaches its final phases of development. We are excited to work with these seasoned, accomplished teams on such a significant opportunity to help physicians and their patients with venous conditions.”
– InterVene CEO Jeff Elkins
“We’ve been strong supporters of InterVene and the rapidly emerging venous interventional space. There’s palpable excitement in the field, and we believe the company is very well positioned to address significant unmet needs for patients with chronic venous insufficiency (CVI) and post-thrombotic disease.”
– Jay Schmelter, RiverVest co-founder and managing director and member of InterVene’s Board of Directors
“Treo is excited to invest in InterVene and looks forward to working with its deeply experienced team to commercialize products for patients dealing with the impact and complications from venous thrombosis.”
– Brad Vale, Treo Ventures founding general partner
“With the dramatic growth of venous interventions, DVT thrombectomy, and venous stents, experience has made us more aware of the causes and often life-long impact of deep venous obstruction and occlusion as well as a need for reinterventions in many patients. This is especially prevalent before and after treatment in post-thrombotic patients and the challenging problem of in-stent restenosis. Recana will be a valuable tool for recanalization in these settings and offers new treatment options for patients requiring ongoing care.”
– Professor Stephen Black, MD, venous surgery physician at King’s College, London, consultant vascular surgeon at Guy’s & St. Thomas’ Hospital, London, and InterVene advisor
