Angioslide, a medical device manufacturer based in Israel, announced that it has successfully raised $6.3 million in a Series C round of equity financing. The financing round was led by TriVentures, a medtech capital fund, and will be used to fund an expansion of its product line into the United States. In addition to Triventures, participants in the Series C round included Agate, XT Investments and Viola Partners.
Lihu Avitov is the CEO of Angioslide. In prepared remarks, he said, "Proceeds from this Series C round will be used to continue US market expansion, improve our product offering and validate the technology in additional vascular beds.”
According to information from the company, an estimated 10 million people in the United States suffer from peripheral artery disease (PAD). In July of 2011, the company successfully deployed its Proteus PAD device for an under-the-knee vasculature.
The Proteus PAD device uses a PTA balloon to assist surgeons in removal of embolic particles caused by PAD. According Michal Geva, partner and co-founder of TriVentures, the investment at Angioslide is one of the first where commercial, clinical and regulatory issues have been mitigated.
According to information from the company, the Proteus PAD system is the first device in its class to receive FDA clearance for lower limb use. The device also has CE Mark clearance in the European Union.