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.