Nectero Medical announced today that it closed a $19.5 million Series C funding round led by new investor Boston Scientific (NYSE:BSX).
Tempe, Arizona-based Nectero Medical said in a news release that proceeds will be put toward its in vivo and clinical trials for the development of a treatment platform designed to stabilize small- to mid-sized aortic aneurysms by significantly reducing their growth rate.
Nectero said its endovascular aortic stabilization treatment (EAST) has demonstrated impressive early clinical results that suggest the potential ability to dramatically inhibit AAA disease growth. The company designed it to prevent rupture and inhibit further degradation of the aortic tissue with a one-time, catheter-based procedure that locally delivers a proprietary compound.
The company currently has the EAST system under evaluation in treating AAA patients in a multi-site, Phase 1 safety study to see if the system can prevent aneurysmal rupture through the minimally invasive procedure that leaves no implant behind.
“For small- to mid-sized aneurysms, ‘active surveillance’ is the current standard of care,” Nectero CEO Jack Springe said in the release. “Unfortunately, these patients are not without risk of rupture, yet they are not eligible for treatments with surgical repair or endovascular grafts due to complications associated with these procedures. We expect our EAST system to satisfy this compelling unmet clinical need.”
Nectero noted that other potential applications for the platform include thoracic aneurysms, aortic dissections, neurovascular aneurysms and cardiovascular and connective tissue disorders.