Financing Supports Continued Development of Vesper Medical's Duo Venous Stent System
May 30, 2019—Vesper Medical, Inc. announced $37 million financing that the company plans to use to complete the development of its Vesper Duo venous stent system, including a large, pivotal clinical trial and subsequent submission of a premarket approval application to the FDA. A portion of the financing will also be used to obtain European CE Mark certification for the Vesper Duo stents.
Vensana Capital and Gilde Healthcare are the lead investors and were joined by existing investors New Enterprise Associates and Quaker Partners. The first tranche of the financing has closed, and future tranches will close as the company achieves key milestones.