View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 27, 2019

InterVene raises funding to develop venous valve repair device

InterVene has raised $15 million in a Series B financing round for the development of its venous valve repair device.

InterVene has raised $15 million in a Series B financing round for the development of its venous valve repair device.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

The funding round was led by new investor 3×5 Partners. Other participants included prior investors RiverVest Venture Partners, Boston Scientific Corporation and Correlation Ventures among others.

The company’s catheter-based BlueLeaf Endovenous Valve Formation System for deep vein reflux (DVR) does not require an implant.

InterVene CEO Fletcher Wilson said: “The funds will be utilised to expand our clinical research programme abroad, and to initiate trials in the US via an Investigational Device Exemption study.”

“We expect to further demonstrate safety and clinical effectiveness while we optimise the BlueLeaf System and procedure in preparation for a subsequent pivotal study.”

The company noted that its BlueLeaf System has been designed to address severe chronic venous insufficiency (CVI) due to DVR by forming new vein valves for patients without the need for an implant.

A physician can use the system to develop new valves from the inner layer of the vein wall. This will result in ‘autogenous’ valves, which aim to reduce retrograde blood flow and lessen the symptoms associated with elevated venous pressures.

The BlueLeaf technique, which is predicated on the Maleti Neovalve open-surgical procedure, enables patients to avoid the trauma of open surgery.

Additionally, it allows the formation of multiple valves in a single procedure and mechanises certain aspects of the open surgery.

Approximately 6.5 million Americans suffer from DVR which involves the failure of venous valves in the legs and can lead to poor blood flow back to the heart and the formation of blood in the legs.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network