Okami Medical Inc., announced today the close of a Series D financing totaling $7.2 million. The financing was led by U.S. Venture Partners and was joined by members of Okami’s board of directors and medical device industry veterans.
The financing provides Okami, the second portfolio company of medical device incubator Inceptus Medical LLC, with capital to commercialize its innovative catheter-based technologies for peripheral vascular occlusion. To date, Okami has developed the LOBO™ Vascular Occlusion System, which is uniquely designed to provide interventional physicians with a single-device, one-and-done solution for the occlusion of a wide range of arterial targets without the need for multiple embolic devices.
“We are pleased to continue to work with investors who have supported us in our mission to create and foster innovative concepts into successful companies, including Inari Medical (Inceptus’ first portfolio company, publicly traded on the Nasdaq Global Select Market under the symbol “NARI”), Sequent Medical (acquired by Terumo in 2016) and MicroVention (acquired by Terumo in 2006),” said Bob Rosenbluth, PhD, President and CEO of Okami. “We will use these funds to support and accelerate Okami’s commercial and technology development programs.”
The LOBO (LOw-profile Braided Occluder) system combines a patented design with proprietary HDBRAID™ technology to create a highly occlusive pore structure that substantially reduces blood flow and accelerates vessel closure. The advanced technology platform enables the fast and efficient closure of blood vessels throughout the body for the successful treatment of a diverse set of conditions. The LOBO system is 510(k) cleared by the U.S. FDA for the occlusion of peripheral arteries.