Gilde Healthcare co-leads $37M financing of Vesper Medical to complete development of its Duo Venous Stent System
Utrecht (The Netherlands), Cambridge (United States) - Gilde Healthcare today announces its investment in Vesper Medical, Inc. (Wayne, PA), a developer of medical devices for minimally invasive peripheral vascular procedures. Gilde Healthcare led the $37 million financing together with Vensana Capital. Existing investors New Enterprise Associates and Quaker Partners joined in the round.
Vesper Medical plans to use the proceeds from this financing to complete the development of its innovative Duo Venous Stent System including a large, pivotal clinical trial and subsequent submission of a Pre-Market Approval (“PMA”) application to the FDA. A portion of the financing will be used to obtain CE Mark certification for the Vesper Duo™ stents.
“Deep venous disease is a highly under-treated disease with dire consequences for patients,” said Geoff Pardo, Partner at Gilde Healthcare. “We are excited to partner with Vesper Medical on the development of a truly novel family of venous stents to treat deep venous disease.”
When the deep veins of the pelvis or upper leg become occluded by clots or narrowed by compression, this can lead to a blockage (or increased resistance) of blood flow out of the leg and abnormally increased pressures in the affected veins. This abnormality can cause symptoms such as severe leg swelling, pain, skin discoloration and even ulcers. Deep venous disease impacts millions of people worldwide, and the primary treatments include elastic compression stockings and blood thinners (oral anticoagulants), which temporize the problem but do not address the root cause - the blockage or narrowing of the veins.
“This financing provides us with the capital we need to rapidly advance development of the Vesper Duo Stent System and bring this important technology to the 25 million U.S. adults suffering with deep venous disease,” said Bruce Shook, President & CEO at Vesper Medical. “Gilde and Vensana bring both experience and resources to the Vesper team, and we are thrilled to have them on board.”
About Vesper Medical
Vesper Medical is a privately held medical device company that develops minimally- invasive peripheral vascular products. Vesper Medical is advancing the treatment of deep venous disease and creating a highly differentiated, purpose-built venous stent portfolio that addresses the multiple anatomical challenges presented by the iliac and femoral veins. Vesper Medical is a spinout of Intact Vascular, Inc., a company dedicated to innovation in the treatment of peripheral arterial disease. Visit www.vespermedical.com for more information.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing € 1 billion ($ 1.2 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare's venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare's private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com
Gilde Healthcare IV is supported by the European Recovery Program - EIF facility