Intact Vascular Receives $25 Million Financing for Expanded Commercialization of the Tack Endovascular System

May 29, 2019—Intact Vascular, Inc. announced $25 million financing that will mainly be used on the expansion of sales, marketing, and clinical support staffing and initiatives following the recent FDA approval of the company's Tack endovascular system for dissection repair after balloon angioplasty above the knee. The company is also preparing for the release of data from its TOBA III and TOBA II BTK clinical studies later this year.

Vensana Capital is the lead investor of the financing and is joined by existing investors including New Enterprise Associates, H.I.G. BioHealth Partners, and Quaker Partners. The initial tranche of the financing has closed, with the remainder scheduled for drawdown in 2020 as the Intact Vascular accelerates its commercialization of the Tack endovascular system.

Intact Vascular is a privately held medical device company. The company's Tack endovascular system is designed to improve peripheral balloon angioplasty results in the treatment of peripheral artery disease (PAD). It is designed to minimize vessel inflammation, promote healing, improve outcomes, and preserve future treatment options for PAD and critical limb ischemia patients. The Tack system, which is preloaded with six self-expanding nitinol devices for above-the-knee or four for below-the-knee interventions, can be deployed to treat multiple dissections using a single catheter and leave behind > 70% less metal than stents, stated the company.