Vascular Dynamics Completes $20 Million Equity Financing to Support Further Clinical Evaluations of MobiusHD Device
IRVINE, Calif.--(BUSINESS WIRE)--Vascular Dynamics, Inc. (VDI), a privately held medical device company focused on developing game-changing endovascular device-based solutions for patients suffering from heart failure, has announced the closing of its $20 million financing round led by an investment partner of VDI shareholder Rainbow Medical. Lawrence C. Best also joined existing investors HBM Healthcare Investments and Invus in this equity round.
VDI’s MobiusHD device is designed to provide interventionalists with a minimally-invasive transcatheter approach to help treat patients suffering from continued heart failure problems despite pharmaceutical therapy. Heart failure currently affects at least 26 million people worldwide and is increasing in prevalence.
Heart failure is often associated with an autonomic nervous system imbalance. Baroreceptors are specialized nerve endings that respond to stretch and are located along the carotid arteries in the neck. These stretch receptors are essential to the body’s natural control and performance of the cardiovascular system. The MobiusHD device is an endovascular implant designed to reshape the carotid artery and amplify this natural baroreflex mechanism, signaling the brain to produce autonomic modulation for improved heart function.
The funding announcement also comes on the heels of a live endovascular procedure using the MobiusHD device performed by Horst Sievert, MD, Director of the CardioVascular Center in Frankfurt, Germany during the recent CSI Frankfurt 2022 Congress. This procedure represented the 30th patient enrolled in the ongoing clinical trial entitled, “A Feasibility Study Exploring the Effect of the MobiusHD Device in Patients with Heart Failure.”
“Initial 12-month clinical results have shown impressive efficacy and demonstrated that the MobiusHD device provides a safe option to treat heart failure patients,” said Dr. Sievert, referring to the study.
“We are excited to be moving into the next phase of our company’s evolution,” said Ed Roschak, VDI’s CEO. “Patients who remain symptomatic despite medical therapy need another option. We believe our device-based treatment can provide a solution. This new round of funding will enable us to further expand the pilot study and sets the stage for a forthcoming pivotal study.”
“We are pleased to support the extended clinical evaluation of the MobiusHD device as a new potential therapeutic approach to treating this global patient population,” said investor and new board member Lawrence C. Best. “We are proud to invest in VDI and this novel technology.”
"MobiusHD” is a registered trademark of Vascular Dynamics, Inc.
About Vascular Dynamics, Inc.
Vascular Dynamics develops innovative, endovascular platform technologies to offer compelling treatment options for patients at risk of life-threatening conditions underserved by conventional treatments. The company’s MobiusHD technology features the first endovascular device to use the body’s natural baroreflex mechanism to modulate the autonomic nervous system and help restore sympathetic balance. Clinical evaluations are in progress. More information is available at www.vasculardynamics.com.