Nectero Medical Completes Series D Financing

April 11, 2024—Nectero Medical announced the closing of its $96 million Series D financing round.

The proceeds will be utilized to accelerate the execution of the company’s phase 2/3 stAAAble trial and to support the submission of a New Drug Application with the FDA for the Nectero endovascular aneurysm stabilization treatment (EAST) system.

According to the company, the Nectero EAST system is an investigational, single-use, endovascular system that delivers pentagalloyl glucose locally into the aneurysmal wall, where it binds to elastin and collagen to strengthen the aortic vessel wall and potentially reduce further degradation. The procedure takes less than an hour to complete and leaves no permanent implant behind.

In January 2024, Nectero Medical announced it had initiated the stAAAble trial to investigate the safety and efficacy of the Nectero EAST system in patients with infrarenal abdominal aortic aneurysms, maximum diameter 3.5–5.0 cm.

The company advised that financing was led by Norwest Venture Partners, with large investments from Boston Scientific Corporation, BioStar Capital, Cadence Healthcare Ventures, Aphelion Capital, and other firms. Upon completion of the Series D financing, Zack Scott, MD, of Norwest Venture Partners, and Alan Davis, MD, of BioStar Capital, have joined the Nectero Medical Board of Directors.

“We are pleased to have raised the funds required to complete the necessary work to bring our potentially transformative technology to market,” commented Jack Springer, President and CEO, Nectero Medical, in the company’s press release. “In addition, we are fortunate to add two highly knowledgeable and extremely insightful members to our already strong and accomplished Board of Directors.”