October 1, 2020
Funding Supports Clinical Studies of Alucent Biomedical’s Vessel Restoration System
October 1, 2020—Alucent Biomedical announced the close of a $35 million Series B financing round. The funding will be used to support the completion of two clinical trials of the Alucent Natural Vascular Scaffolding (AlucentNVS), a vessel restoration system with photoactivated linking.
The ACTIVATE I first-in-human trial has begun enrollment and will include up to 15 patients at up to five medical centers in the United States. The larger ACTIVATE II trial will evaluate the safety and efficacy of the AlucentNVS, the company’s intended commercial product. ACTIVATE II, an investigational device exemption study, is planned for mid-2021 and will enroll up to 100 patients at up to 15 centers in the United States.
According to the company, the AlucentNVS system is designed to treat peripheral artery disease of the lower extremities by opening and keeping open blood vessels without the use of permanent implants. The company stated that preclinical testing of AlucentNVS in animal studies has shown acute and long-term safety and patency without the proinflammatory and mechanical risks of placing a rigid foreign implant into the blood vessel.
Based in Salt Lake City, Utah, Alucent Biomedical was founded by the Avera Research Institute, an arm of Avera Health.
Alucent advised that with this funding, the company has raised approximately $60 million to date. The financing round was led by a large multinational strategic investor and joined by another new investor, Fresenius Medical Care Ventures. Avera Health also contributed to the financing.