Vantis Vascular announced that it closed a $5 million SAFE (Simple Agreement for Future Equity) financing round.
The company can convert the financing upon its future Series C preferred financing round. It brings the total funding for the company to $24 million to date.
Related: Bioresorbable scaffold maker R3 Vascular raises $87M
San Jose, California-based Vantis plans to use the funds to advance its interventional cardiology offerings. The company develops the CrossFast integrated microcatheter guide extension system and the CrossShock intravascular lithotripsy (IVL) system.
CrossFast features two-in-one DuoPro interlocking technology. It provides interventionalists with enhanced control and maneuverability to navigate calcific anatomies. CrossShock utilizes a low-profile micro-electrode design to optimize the IVL experience while treating calcified arteries.
Both products serve large, growing cardiovascular markets. Vantis highlighted the growing IVL market, which includes Shockwave Medical (set to be acquired by Johnson & Johnson for $13.1 billion) and FastWave Medical.
“At Vantis, we’re on a mission to transform the way the medical community navigates and treats complex and calcific arteries,” said Jason Turner, Vantis CEO. “This financing underscores the confidence of our investors in our vision, experienced management team, and the potential of our technologies to drive innovation and make a lasting impact in vascular interventions. This round will aid to accelerate our development efforts, while supporting the near-term commercial launch of our CrossFast system.”
