Veryan Secures £18m Series B Funding.
January 2015. Veryan Medical has announced a £18m series B funding round led by Imperial alongside co-investors Invesco Asset Management, Seroba Life Sciences and Seven Mile. This investment will be utilised to commercialise the BioMimics 3D stent in international markets and to fund an IDE study in pursuit of FDA approval for the device.
The objective of Veryan’s technology is to improve upon the biomechanical and flow characteristics of stents, particularly those used in arteries of the leg, where the straight tubular design currently used, tends to straighten the natural curvature present in vessels and may lead to vessel re-narrowing and stent fracture. In contrast, Veryan’s BioMimics 3D™ stents have a patented three-dimensional helical shape that more closely mimics the natural geometry of the human vascular system, which not only improves blood flow in stented vessels, but also provides greater flexibility, kink and fracture resistance.
In November 2014, the full two-year data from the “Mimics” randomised controlled study of Veryan’s BioMimics 3D™ Stent System were presented by Principal Investigator Professor Thomas Zeller, at the VIVA Symposium in Las Vegas. The results of this study confirmed that the advanced stent design offers statistically significant clinical benefits in terms of improved haemodynamics, clinical outcomes, and improved vascular compatibility, when compared to straight Nitinol stents.
Veryan Medical CEO Chas Taylor said “Veryan has already gained a CE Mark enabling sales of its BioMimics 3D™ stent to commence. The funds from the Series B investment round will now enable Veryan to build a team to support the international launch later this year, to expand the addressable market by completing a FDA regulatory trial and build on our excellent clinical results to date. I am also delighted to announce the appointment of Simon Cartmell (an Operating Partner at Imperial Innovations) as Non-Executive Chairman of Veryan, we welcome Simon to the team at this exciting time for Veryan”.
Note: BioMimics 3D is a registered trademark of Veryan Medical Ltd.
Caution: The BioMimics 3D stent is not available for sale or investigational use in the United States.
For more information, please contact: Vicky La Touche-Price at Seroba Life Sciences on +3531 6334028.
For more about Veryan Medical, please visit: www.veryanmed.com
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