Instylla Raises Financing for Clinical Development of Hydrogel Embolic System

August 15, 2023—Instylla, Inc. announced the closing of a $30 million financing round. The company is developing next-generation liquid embolics for peripheral vascular embolotherapy that will have initial clinical applications in interventional oncology and peripheral hemostasis.

The funds are anticipated to support the company’s ongoing prospective clinical trials and early commercialization.

The company’s first product is the Embrace hydrogel embolic system (HES), which is an investigational device intended to be used to embolize hypervascular tumors in vessels ≤ 5 mm or peripheral arterial bleeds in vessels ≤ 6 mm. Embrace HES consists of two injectable liquid precursors that solidify when simultaneously delivered into blood vessels, forming a soft hydrogel that fills the vessel lumens during embolization. Its main components are water and polyethylene glycol.

According to Instylla, the Embrace HES is being evaluated in the Instylla HES hypervascular tumor pivotal study, which is comparing the safety and effectiveness of the HES versus standard-of-care transcatheter arterial embolization or transcatheter arterial chemoembolization for the vascular occlusion of hypervascular tumors. The launch of the study was announced in March 2021. It is currently enrolling patients in the United States and Canada.

The HALT study is evaluating the safety and effectiveness of the Embrace HES for the embolization of arterial bleeding in solid organs and peripheral arteries. On January 10, 2023, the company announced that HALT was launched in the United States. The study is continuing to enroll patients.

This financing round was led by new investor Delos Capital, with continued participation from the investor syndicate of Excelestar Ventures, Ascension Ventures, Catalyst Health Ventures, Amed Ventures, Sparta Group, and Incept, LLC. As part of this round of financing, Henry Chen, Managing Partner of Delos Capital, has joined the Instylla Board of Directors.