PR Newswire09.08.16
VENITI Inc., a company involved in the advancement of treatment for deep venous disease, has closed on $25 million in Series D equity financing from Boston Scientific Corporation. The funds will allow VENITI to complete the VIRTUS Trial and regulatory filing for the VICI VENOUS STENT System. The trial is being performed under a U.S. Food and Drug Administration (FDA) Investigational Device Exemption (IDE). The company also intends to expand product development and commercial operations.
"We are extremely pleased to be partnering with such a high quality industry leader to advance our core technology, the VICI VENOUS STENT," said Jeff Elkins, president and CEO of VENITI. "This financing will allow us to complete a number of critical milestones and support more physicians treating patients suffering from venous outflow obstruction around the world."
Venous disease affects millions of people worldwide and is marked by symptoms that include progressive leg pain and swelling, leg heaviness and skin changes. Physicians may choose to treat the obstructive component of venous disease through minimally invasive endovascular stenting procedures. The VICI VENOUS STENT System was designed from inception to meet the unique challenges of the venous system, providing physicians with a balance of crush resistance, flexibility and ease of deployment.
Citigroup Global Markets Inc. acted as exclusive financial advisor to VENITI in connection with the transaction.
"We are extremely pleased to be partnering with such a high quality industry leader to advance our core technology, the VICI VENOUS STENT," said Jeff Elkins, president and CEO of VENITI. "This financing will allow us to complete a number of critical milestones and support more physicians treating patients suffering from venous outflow obstruction around the world."
Venous disease affects millions of people worldwide and is marked by symptoms that include progressive leg pain and swelling, leg heaviness and skin changes. Physicians may choose to treat the obstructive component of venous disease through minimally invasive endovascular stenting procedures. The VICI VENOUS STENT System was designed from inception to meet the unique challenges of the venous system, providing physicians with a balance of crush resistance, flexibility and ease of deployment.
Citigroup Global Markets Inc. acted as exclusive financial advisor to VENITI in connection with the transaction.