InterVene Raises $15 Million in Series B Funding

RAYUS Radiology Quality Institute Distinguished Nationally by Centers for Medicare & Medicaid

Quality Institute Again Earns Certification as Provider-Led Entity for Advanced Diagnostic Imaging Guidance to Clinicians.

LX1550 Multiparameter Remote Monitoring Platform Receives FDA 510 (k) Approval: Reports LifeSignals

Further validation of ability to deliver continuous remote patient vital signs monitoring within both hospital and home settings.

U.S. News & World Report Names Tampa General Hospital as Best in Tampa Bay

This is the sixth consecutive year that Tampa General has been named by U.S. News & World Report as Tampa Bay's top hospital.

InterVene Inc. today announced it has raised $15 million in a Series B financing round. The company’s BlueLeaf® Endovenous Valve Formation System is the first catheter-based solution for deep vein reflux (DVR) — the failure of venous valves in the legs — that does not require an implant.

InterVene Inc. reports the System is designed to correct one of the underlying causes of chronic venous insufficiency (CVI) by forming new vein valves out of a patient’s own vein wall tissue. The funding round was led by new investor 3×5 Partners, who was joined by prior investors RiverVest Venture Partners®, Boston Scientific Corporation (NYSE: BSX), Correlation Ventures and others.

“The funds will be utilized to expand our clinical research program abroad, and to initiate trials in the U.S. via an Investigational Device Exemption study,” explained InterVene Inc. CEO Fletcher Wilson. “We expect to further demonstrate safety and clinical effectiveness while we optimize the BlueLeaf System and procedure in preparation for a subsequent pivotal study.”

InterVene’s recently expanded management team includes COO Jeff Elkins, who has led numerous emerging endovascular technology companies, including his role as CEO of Veniti, which was recently acquired by Boston Scientific. Also joining the company is VP clinical affairs Tracy Roberts who has directed clinical activities for leading vascular and biomedical companies.

Approximately 6.5M Americans suffer from DVR and moderate to severe CVI, a disease characterized by elevated pressures in the leg veins. DVR involves the failure of venous valves in the legs, leading to poor blood flow back to the heart and the pooling of blood in the legs. DVR patients tend to progress to the most severe symptoms, including skin breakdown and chronic ulcers, which have negative impacts on their quality of life. The current standard of palliative treatment– involving compression therapy, leg elevation, and local wound care — does not address the underlying problem of deep vein valve failure.

InterVene’s BlueLeaf System is the first catheter-based approach designed to address severe CVI due to DVR by forming new vein valves for patients without the need for an implant. The System allows a physician to fashion new valves from the inner layer of the vein wall. The resulting “autogenous” valves aim to reduce retrograde blood flow and alleviate the symptoms associated with elevated venous pressures.

“The BlueLeaf technology has the potential to offer a solution for patients with DVR, a current major gap in our treatment portfolio,” said William Marston, M.D., the George Johnson Jr. Distinguished Professor of Vascular Surgery at the University of North Carolina School of Medicine. “The reports of the initial patients treated with the procedure are promising, and if confirmed in larger studies with longer follow-up, can provide a novel, important treatment option for this underserved patient group.”

“Treatment options for patients with DVR have been limited,” said Mikel Sadek, M.D., vascular surgeon and assistant professor of surgery at NYU Langone Health. “This innovative technology may offer an alternative for patients needing procedural intervention to treat their disease.”

The BlueLeaf technique is predicated on the Maleti Neovalve open-surgical procedure, but enables patients to avoid the trauma of open surgery, allows for multiple valves to be formed in a single procedure and mechanizes certain aspects of the technically-difficult open surgical procedure for ease of use and repeatability.



Mediclinic Appoints 2 New Independent Non-Executive Directors

Natalia Barsegiyan and Zarina Bassa will bring significant and diverse skills and experience, complementing those of existing Board members. I am confident they will both be great additions to our Board of Directors.”

Asensus Surgical Appoints Two New Board Members

Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient to pioneer a new era of Performance-Guided Surgery™, today announced the expansion of its Board of Directors, appointing...

Our Sister Publication: Biotechnology News Magazine

Subscribe to Medical Device News Magazine here.