VentureMed has raised $29m to accelerate the commercial adoption and expand indications for its FLEX Vessel Preparation (FLEX VP) system.
The Minnesota-based company鈥檚 Series C financing round was led by S3 Ventures, with participation from existing investors including Endeavour Vision.
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Receiving European CE marking in 2015 and US Food and Drug Administration (FDA) clearance in 2020, FLEX VP is designed to optimise vessel preparation and access management ahead of peripheral arterial disease (PAD) and arteriovenous fistulas and graft (AVF/AVG) interventions such as drug-coated balloon angioplasty and stent placement.
Bringing the company鈥檚 funding to date to around $45m, VentureMed said it plans to use the proceeds to expand its commercial infrastructure and advance its clinical programme to support new product development, including new applications in adjacent vascular settings.
VentureMed鈥檚 CEO, Denis Harrington commented: “This significant financing underscores investor confidence in the FLEX VP system and our mission to strengthen VentureMed’s position in global vascular care.”
FLEX VP uses VentureMed鈥檚 proprietary Kinetic Endovascular Micro-incision Creation (KEMIC) technology to create micro incisions using controlled motion and vessel apposition. According to VentureMed, the approach functions to increase the inner diameter or cross-sectional area of a blood vessel, resulting in increased blood flow to improve drug uptake and reduce vessel trauma to lower the risk of restenosis in PAD.
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By GlobalDataResearch indicates that PAD affects aged 40 and above in the US. Commonly a result of plaque buildup caused by conditions such as obesity and diabetes, severe PAD cases can result in severe blood flow blockages in the legs that can result in tissue death or amputation.
Differences in factors such as plaque composition and PAD disease progression can result in PAD lesions being fibrotic, stenotic), or calcified.
With calcification, atherectomy is the common treatment approach to PAD, yet intravascular lithotripsy (IVL) has gained a significant foothold within the past decade. Shockwave Medical, which was acquired by Johnson & Johnson (J&J) in a $13.1bn deal in 2024, is a dominant player in this space. According to GlobalData analysts, due to IVL鈥檚 efficiency and short learning curve while maintaining a comparable efficacy, it may in future replace traditional atherectomy procedures for PAD for the general patient population.
