Monday, November 28, 2022

Artio Medical Closes $28M in Additional Series A Financing

Funding to launch commercial sales team in US and continue development of best-in-class product pipeline

Artio Medical, Inc., a medical device company developing innovative products for the peripheral vascular, neurovascular, and cardiology markets, today announced the closing of $28 million in oversubscribed Series A2 and Series A3 financing, bringing the total amount raised to date to $74 million.

Funds will be used to support US commercialization efforts for the recently cleared Solus Gold™ Embolization Device and to accelerate the development of Artio’s broad portfolio of products, including expanding the Company’s engineering and manufacturing capabilities.

Artio is currently developing ten products for the peripheral vascular market, including the Solus Gold™ and Solus Flex™ Embolization Devices for peripheral vessel occlusion and the Amplifi™ Vein Dilation System which is designed to prepare hemodialysis patients for successful arteriovenous fistula vascular access site creation.

Artio Medical is also currently developing four products for the neurovascular market, including the Endura™ Embolization System comprising a detachable balloon and coils for the treatment of saccular brain aneurysms.

“We would like to thank our existing investors for their continued strong support and also welcome a new group of investors to Artio,” stated Joseph McConnell, Vice President of Finance and Business Operations at Artio. “We have the opportunity to do something really special here, to bring a new generation of medical devices to market with the potential to save lives, reduce disability, and improve the quality of life for millions of people. This new capital will help Artio expand our team and scale our operations to deliver on that mission.”

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