Endoron Medical has secured $10m in Series A funding to advance its flagship product, the catheter-based EndoStapling solution Aortoseal, through clinical studies.
The round was led by Sofinnova Partners, with matching contributions from the European Innovation Council Fund (EIC Fund). This builds on a previously awarded €2.5m ($2.7m) grant by the European Commission under the EIC Accelerator programme, European Innovation Council and SMEs Executive Agency (EISMEA).
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Endoron’s device is designed to help repair abdominal aortic aneurysms (AAA) using a minimally invasive stapling mechanism that seals endografts within the aorta, preventing movement and leaks. AAA is a dangerous swelling in the aorta that runs through the abdomen. Endografts are special tubes used to reinforce a weakened blood vessel from the inside.
The Israel-headquartered company was founded in 2019 and seed-financed in 2021 by Sofinnova Partners. The funding is set to advance Endoron’s technology through an Investigational device exemption (IDE) approved early feasibility study (EFS).
Endoron’s CEO Ronit Harpaz highlighted Sofinnova’s support: “With their continued support, I am confident we will reach key clinical and regulatory milestones as we advance our EndoStapling technology towards the clinic. The EIC’s participation further solidifies our commitment to bringing this innovative solution to the European market.”
According to GlobalData’s medical device pipeline database, Endoron is a key player in the active development of aortic and vascular graft devices, alongside Acro Biomedical, BioLife4D, Cook Medical, and others.
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By GlobalDataIn January 2024, US-based Nectro Medical kicked off a Phase II/III trial (NCT06001918) of its Nectero EAST treatment for stabilising aneurysms. This single-use endovascular system uses a dual-balloon catheter to deliver a pentagalloyl glucose (PGG) mixture, which binds to elastin and collagen to strengthen the aortic wall and potentially prevent AAA development, as shown in animal studies.
According to a report on GlobalData’s Medical Intelligence Center, the US aortic stent grafts market was valued at $1.25bn in 2018 and is expected to be valued at $2.69bn in 2033.
