Nectero Medical Announces Completion of $96M Series D Financing – Nectero Medical
Summary
In addition, we are fortunate to add two highly knowledgeable and extremely insightful members to our already strong and accomplished Board of Directors.The Nectero EAST System is an investigational, single-use, endovascular system that delivers pentagalloyl glucose (PGG) locally into the aneurysmal wall, where it binds to elastin and collagen to strengthen the aortic vessel wall and to potentially reduce further degradation. The Nectero EAST System has the potential to have a profound impact on the hundreds of thousands of patients living with aneurysmal disease and would represent the most significant advancement in the treatment of AAA in over 25 years.FDA has granted Breakthrough Therapy designation for the Nectero EAST System, acknowledging that the preliminary clinical evidence indicates that the combination product may demonstrate substantial improvement over available therapy on a clinically significant endpoint(s), said Dr. Alan Davis, Managing Director, BioStar Capital. Smaller AAAs are traditionally monitored with serial ultrasound or CT surveillance and carry a 0.5-5% annual risk of rupture.The Nectero EAST System is comprised of a dual-balloon delivery catheter and stabilizer mixture containing pentagalloyl glucose (PGG). The procedure does not require any specialized tools for vascular surgeons trained in endovascular techniques, takes less than an hour to complete, leaves no permanent implant behind, and does not preclude any future interventions. Early clinical results from the companys first-in-human (FIH) study were recently published in the Journal of Vascular Surgery.In 2023, the Nectero EAST System was granted Fast Track and Breakthrough Therapy designations to treat patients with infrarenal AAAs, maximum diameter 3.5 5.0cm.