Artio Medical Closes Tranche of $12 Million in Series A Financing

 

PRAIRIE VILLAGE, Kan., April 29, 2021 /PRNewswire/ -- Artio Medical, Inc., a medical device company developing innovative products for the peripheral vascular, neurovascular, and structural heart markets, announced today the closing of an additional $12 million tranche of Series A financing, bringing the total to $46 million. Led by existing investors Nathaniel and Sarah Hagedorn, the funding will be used to complete the company's first-in-human clinical study of its Amplifi Vein Dilation System and prepare for commercialization of its Solus Gold Embolization Device.

"We were thrilled to close this round of financing with strong support from existing investors who share our mission to provide better patient outcomes," states F. Nicholas Franano, MD, President and CEO of Artio. "The Artio team is focused on the road ahead as we advance multiple development programs and prepare for commercialization of our first product."

"Nick has built a broad, diverse portfolio of highly innovative products at Artio and is assembling a world-class team to develop and commercialize them," commented Mr. Hagedorn, Founder and CEO of Northpoint Development. "We were pleased to have the opportunity to lead this round of financing and to invest additional capital to move the company and its mission forward."

This financing will accelerate the development of Artio's peripheral vascular product pipeline, which is highly complementary with significant overlap in call points and procedures. The Amplifi Vein Dilation System, which aims to prepare hemodialysis patients for successful vascular access site creation, has shown promising results in initial clinical testing. The Solus Gold Embolization Device comprises a low-profile, flexible catheter assembly and a non-porous, gold balloon-like implant and is designed for precise placement and immediate vessel occlusion. The device has shown exceptional performance in preclinical testing.

About Artio Medical
Artio Medical is a medical device company committed to developing innovative products for the treatment of peripheral vascular, neurovascular, and structural heart diseases. For more information, please visit www.artiomedical.com.

About the Amplifi  Vein Dilation System
An estimated 2.3 million end-stage renal disease patients require life-sustaining hemodialysis treatment worldwide. Creating and maintaining a suitable vascular access site is one of the most difficult and expensive aspects of hemodialysis. The National Kidney Foundation and Centers for Medicare and Medicaid Services agree that an arteriovenous fistula (AVF) is the preferred form of vascular access, however an estimated 35% of U.S. patients are ineligible for AVF surgery and more than 50% of AVFs fail to mature.1,2 The Amplifi Vein Dilation System is a wearable, external blood pump system designed to stimulate arm vein enlargement in hemodialysis patients prior to AVF surgery through a 7 - 10 day treatment of the arm with rapid, non-pulsatile blood flow. Amplifi aims to make more patients eligible for AVF surgery, reduce the time required for AVF maturation, and increase successful maturation after AVF creation.

About the Solus Gold  Embolization Device
Continued blood flow through damaged or diseased blood vessels can result in life-threatening bleeding and other serious medical conditions. Peripheral vascular embolization is a minimally invasive procedure that blocks or reduces flow in blood vessels. The Solus Gold Embolization Device combines a low-profile, flexible catheter assembly and a non-porous, gold balloon-like implant for easy delivery, precise placement, and immediate vessel occlusion.

1. Hemodialysis National Institute of Diabetes and Digestive and Kidney Disease, https://www.niddk.nih.gov/health-information/kidney-disease/kidney-failure/hemodialysis
2. United States Renal Data System (USRDS) End Stage Renal Disease Annual Report. 2018. https://www.usrds.org/.

 

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SOURCE Artio Medical, Inc.

 

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