Utrecht (The Netherlands), Boston (United States) – Ablative Solutions, Inc. (Kalamazoo, Michigan), a medtech company pioneering new approaches for the treatment of hypertension, today announced the first close of its USD 77 million Series D funding round. The round was led by Gilde Healthcare and co-led by existing investor BioStar Ventures and an undisclosed new strategic corporate investor. Existing investors, including Michigan Accelerator Fund, Novus Biotechnology and other individual investors rounded out the financing.
Funds from the round will be used to complete clinical trials in support of U.S. and European regulatory submissions for the company’s minimally invasive renal denervation technology designed to help reduce blood pressure for people with uncontrolled hypertension.
Ablative Solutions’ alcohol-mediated renal denervation procedure is performed using the investigational Peregrine System Kit™, which is engineered to target nerves known to influence the body’s regulation of blood pressure. The Peregrine Kit delivers dehydrated alcohol in small doses directly to the space outside of the renal artery to block the overactive signaling of the sympathetic nerves. This targeted treatment is designed to be performed in a rapid, straightforward procedure with minimal pain or discomfort for the patient.
Drug therapy and lifestyle changes are the most common treatments for hypertension. Medication non-adherence remains a serious and underappreciated limitation of drug therapy. More than half of those treated do not achieve their target blood pressure, highlighting the need for improved therapeutic options.
About the Peregrine System Infusion Catheter
The Peregrine System Infusion Catheter has 510(k) clearance for the infusion of diagnostic and therapeutic agents into the perivascular area of the peripheral vasculature. The Peregrine System Infusion Catheter is CE marked for the infusion of a neurolytic agent to achieve a reduction in systemic blood pressure in hypertensive patients.
About Ablative Solutions
Ablative Solutions, Inc., based in Kalamazoo, Mich., and San Jose, Calif., was founded in 2011 with a vision to address the unmet need of hypertension. Ablative Solutions’ approach targets the overactive sympathetic nervous system, which may play a role in hypertension, heart failure, kidney disease, metabolic syndrome and sleep apnea. The Peregrine System Infusion Catheter provides physicians with a way to infuse diagnostic and therapeutic agents into the area surrounding the renal artery, where sympathetic nerves are located. The Peregrine System Kit is currently being investigated as a treatment for hypertension in conjunction with antihypertensive medications. For more information visit ablativesolutions.com.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing EUR 1 billion across two business lines: a venture & growth capital fund and a private equity fund. Gilde Healthcare’s venture & growth capital fund invests in therapeutics, medtech and digital health. The portfolio companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable lower mid-market European healthcare services companies with a focus on the Benelux and DACH region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. The venture & growth fund is currently investing out of Gilde Healthcare IV which is financed, in part, by the European Recovery Program-European Investment Fund Facility. For more information, visit the company’s website at gildehealthcare.com.