January 8, 2013 — Angioslide announced the closing of $6.3 million financing led by new investor TriVentures. In addition Biostar joined returning investors Viola Partners, Agate and XT Investments to complete the round.
“Proceeds from this Series C round will be used to continue U.S. market expansion, improve our product offering and validate the technology in additional vascular beds,” said Lihu Avitov, Angioslide CEO. “The financing will help us fuel our growth. We are excited to have TriVentures join our efforts and appreciate the ongoing support from Viola Partners, Agate and XT Investments.”
Angioslide is transforming peripheral angioplasty by combining PTA balloon intervention with debris capture and removal. The Proteus device removes some of the embolic particles released during peripheral interventions, enabling physicians to improve procedural outcomes in challenging interventions. Angioslide's above-the-knee product line was recently expanded to include a below-the-knee, low-profile 0.014-inch platform.
Over 10 million people suffer from peripheral artery disease (PAD) in the United States alone. In recent years, catheter-based interventions have become the primary therapeutic approach for these patients. With the increase in life expectancy, diabetes prevalence and number of high-risk patients, physicians are seeking to expand the current interventional “tool box” to improve procedure outcomes.
"Angioslide is a very exciting opportunity that can truly help PAD patients reconstitute their vascular flow," said Michal Geva, co-founder and a managing partner of TriVentures. "This is one of TriVentures' first investments in which the clinical, regulatory and commercial challenges are mitigated, and we look forward to working with the team in bringing this technology to expanded commercialization in the U.S."