Efemoral Medical’s EVSS Device Development Supported by New Funding

December 13, 2022—Efemoral Medical, a developer of next-generation bioresorbable solutions to treat patients with vascular disease, announced the closing of its $4.9M preferred Series A1 round. The proceeds will be used to support Efemoral’s device development and expand enrollment in its ongoing first-in-human (FIH) clinical trial, EFEMORAL I.

The company’s initial product, the Efemoral vascular scaffold system (EVSS) with FlexStep technology, is designed to offer a dedicated strategy for peripheral artery disease (PAD) interventions. The EVSS is available outside the United States for investigational device only.

These new funds will complement Efemoral’s phase II Small Business Innovation Research award, announced in September 2022, that will support preclinical studies. The new funding was supported by existing investors as well as an experienced cohort of new investors.

According to the company, the device addresses the specific anatomic challenges and complex biomechanics of patients with athero-occlusive disease in the leg. Through the use of inter-scaffold spaces, the FlexStep technology combines flexibility with support to accommodate tortuosity and skeletal movement, while the balloon-expandable deployment system easily opens vessels and sustains healthy blood flow.

The EVSS’s bioresorbable scaffold with long-term sirolimus elution aims to restore normal vessel diameter at the time of the procedure, deliver therapeutic benefits across all lesion lengths and morphologies, prevent restenosis, and maintain patency while leaving no permanent implant behind, stated the company.

In December 2020, the company announced the FIH use of the device withe commencement of the EFEMORAL I FIH clinical study, which is led by Principal Investigator Andrew Holden, MBChB, Director of Interventional Radiology at Auckland City Hospital in Auckland, New Zealand.

Christopher Haig, Cofounder and CEO of Efemoral Medical, commented in the company’s press release, “The initial clinical experience in EFEMORAL I has demonstrated that the EVSS has the potential to be a highly effective treatment for femoropopliteal disease. This new funding will allow us to build additional confidence in our device by taking it to multiple hospitals and enrolling more patients. We remain committed to advancing the science behind our device and are excited about the potential of our technology to offer a durable clinical solution to patients and physicians.”