Oxford Endovascular Gains Funding to Study OxiFlow Microstent to Treat Brain Aneurysms

April 8, 2021—Oxford Endovascular, which is developing a treatment for brain aneurysms, announced it has raised $10 million in a Series A funding round. The company is a spinout from Oxford University in Oxford, England.

According to Oxford Endovascular, it has developed the OxiFlow microstent using “origami” engineering. This next-generation flow-diverter is designed for more safe and accurate treatment, reducing the risk of complications and the need for multiple devices. The device lies across the base of the aneurysm and causes it to shrink and heal. It can be delivered to the brain blood vessel via minimally invasive groin access. OxiFlow was developed by leading professors of neuroradiology and engineering.

The company stated that the funding will enable the completion of development of the device and gain first-in-human data through an early feasibility clinical study. After this, the company will raise additional funding for larger FDA and CE Mark clinical trials to gain regulatory approval in international markets.

The funding, which was conducted in British pounds sterling, includes a £3 million investment from new investors Vulpes Investment Management, who joined to lead the round and funds from the Additio Investment Group. Existing investors Oxford Sciences Innovation PLC, Parkwalk Advisors, Perivoli Innovations, Oxford Investment Consultants, the University of Oxford, and private individuals. This project has also received funding from the European Union’s Horizon 2020 research and innovation program, advised Oxford Endovascular.