April 13, 2017 — Vascular Dynamics Inc. (VDI) a privately held medical device company developing novel solutions for the treatment of hypertension, today announces it has completed a $10.4 million financing.
The private placement included all major current investors in Vascular Dynamics. The promissory notes issued in the financing are expected to convert into the company’s prospective Series C financing.
The proceeds of the financing will contribute to the funding of the company’s studies for its investigational MobiusHD system for the treatment of resistant hypertension. The company has already been accepted into the U.S. Food and Drug Administration’s Feasibility Study Investigational Device Exemptions (IDE) program, as well as its Expedited Access PMA (premarket approval) program, designed to potentially shorten time to approval for marketing.
The MobiusHD System, a minimally-invasive system for the treatment of resistant hypertension, capitalizes on the ability of the body’s baroreceptor mechanism to regulate blood pressure. Baroreceptors are receptors located in the carotid artery that sense blood pressure and relay that information to the brain. The MobiusHD implant is designed to amplify the signals received by the surrounding arterial baroreceptors, and thereby amplify the body’s natural response to lower blood pressure through vasodilation.
For more information: www.vasculardynamics.com