MIAMI, Feb. 22 /PRNewswire/ -- VeinRx Inc., a private medical technology company, having developed a novel method to deliver physician-specified fluids to the peripheral vasculature, today announced that it has closed its Series B round of financing.
New investor De Novo Ventures led the financing and was joined by existing venture capital investors Three Arch Partners and CHL Medical Partners.
VeinRx intends to use the proceeds from the financing to continue its clinical research program with the novel infusion catheter, as well as commence the commercial phase of the Company. Physicians worldwide have praised the unique design that allows physicians to infuse an agent of their choice in a uniform and controlled way. The catheter also incorporates a distal sealing balloon and the unique FloLock(tm) technology to insure patency of the catheter delivery holes. Physicians have been using the catheter to treat venous insufficiency of the great saphenous vein with excellent results.
David Mauney, Managing Director, De Novo Ventures, stated, "We have been following the progress of VeinRx and it's unique technology. We believe that the future prospects are bright and we are committed to seeing this superior technology commercialized."
Jeff Collinson, Managing Partner, CHL Medical, said, "We are pleased with the progress the company has made and with the positive results physicians are achieving using VeinRx technology."
"We are very excited to have the opportunity to work with De Novo Ventures given their record of success and medical device experience," stated Scott Jahrmarkt, Founder, President and Chief Executive Officer of VeinRx. "Having the continued support of Three Arch Partners and CHL Medical clearly demonstrates confidence in the VeinRx approach."
About VeinRx
VeinRx is headquartered in Miami, Florida and is a private medical technology company focused on the research and development of state-of-the-art infusion technology that can be used, among other things, to treat varicose veins.
VeinRx Inc.CONTACT: Christine Lazo, VeinRx Inc., +1-305-716-7000, orclazo@veinrxinc.com
Web site: http://www.vein-rx.com/