Barcelona-based medical device company Anaconda Biomed has raised €20m in a funding round, with plans to use the proceeds for clinical studies, regulatory submissions, product development and manufacturing scale-up.

Spanish venture capital firm Asabys Partners, through its fund Sabadell Asabys Health Innovation Investments, led the financing round, which also saw participation from existing investors Ysios Capital, Omega Funds and Innogest.

Anaconda Biomed CEO Francois Salmon said: “With this new round of funding, we will be able to advance our work in developing and testing next-generation technology that has the potential to dramatically accelerate and improve endovascular treatment of major ischemic stroke patients.

“This financial backing is further validation that the lifesaving work we are engaged in at Anaconda is absolutely vital in the quest to reduce the incidence of death and disability following a stroke.”

The firm develops next-generation thrombectomy systems to treat ischemic stroke.

Anaconda’s advanced thrombectomy System consists of a delivery catheter, a unique, funnel-shaped aspiration catheter and a stent retriever.

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The funnel of the system can self-expand and conform to the artery diameter up to 5mm to arrest the blood flow in the local area, facilitating extraction of full thrombus without fragmentation.

Anaconda Biomed claimed that its advanced thrombectomy system provides an improvement in revascularisation rates at both first and third pass.

Furthermore, the firm has initiated a 125-patient first-in-human study enrolling 14 patients. It plans to use the study results to support the regulatory submission to the US FDA.

Asabys Partners co-founder Josep Ll. Sanfeliu said: “For Asabys Partners, this investment in Anaconda is a confirmation of our investment strategy, which is focused on pushing the boundaries of science and technology with the goal of addressing some of today’s most challenging medical issues.”