Intact Vascular Closes Additional Series B Funding
January 3, 2017—Intact Vascular, Inc., the developer of the Tack endovascular system, announced that current investors, New Enterprise Associates, Quaker Partners, and H.I.G. BioHealth Partners, have exercised their right to invest additional capital as part of the company’s Series B financing, bringing the total raised to $46 million. The Series B financing initially closed in May 2015. The Tack device is designed to repair arterial dissections after percutaneous transluminal angioplasty (PTA) in the treatment of peripheral arterial disease (PAD).
According to Intact Vascular, the funds will be used to advance the company’s broad clinical development program, encompassing both above-the-knee (ATK) and below-the-knee (BTK) clinical trials, as well as product development initiatives aimed at expanding the utility of the Tack endovascular system to treat PAD.
Intact Vascular is currently sponsoring three large, international Tack optimized balloon angioplasty (TOBA) clinical trials: TOBA II, TOBA II BTK, and TOBA III. TOBA II and TOBA III are investigating the safety and efficacy of the Tack system in the treatment of ATK PAD in combination with both PTA and drug-coated angioplasty balloons. TOBA II BTK is focused on the use of the Tack system in conjunction with PTA to treat BTK PAD.
The company advised that the Tack endovascular system is limited by United States law to investigational use only in the TOBA II (ATK) and TOBA II BTK studies. In Europe, the 6-F ATK Tack endovascular system has received CE Mark authorization. CE Mark authorization for the 4-F BTK device is pending.