InterVene recently announced the closing of its US$13 million Series A financing round. The financing was co-led by new investor Treo Ventures and existing investor RiverVest Venture Partners. In conjunction with this financing, Brad Vale, Treo Ventures founding general partner, has joined InterVene’s board of directors.
A press release notes that 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 USA. In addition, proceeds will support preparation for initial commercialisation and postmarket clinical research.
“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,” said InterVene CEO Jeff Elkins. “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 designed Recana to recanalise and restore patency in chronically obstructed deep veins and venous stents, particularly when recanalisation capabilities are limited or when long-term chronic stent maintenance is necessary. The company states that, utilising standard fluoroscopy/intravascular ultrasound (IVUS)-guided interventional techniques, Recana can be easily incorporated by vascular specialists already performing deep vein thrombosis (DVT) treatment and deep venous stenting.
“We’ve been strong supporters of InterVene and the rapidly emerging venous interventional space,” said Jay Schmelter, RiverVest co-founder and managing director and member of InterVene’s board of directors. “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.”
“Treo is excited to invest in InterVene and looks forward to working with its deeply experienced team to commercialise products for patients dealing with the impact and complications from venous thrombosis,” said Vale.
“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,” noted Stephen Black, venous surgery physician at King’s College London (London, UK), consultant vascular surgeon at Guy’s & St Thomas’ Hospital (London, UK) and InterVene advisor. “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 recanalisation in these settings and offers new treatment options for patients requiring ongoing care.”
