Nectero Medical Raises Funds for Development of Platform to Treat Aneurysmal Disease

September 10, 2021—Nectero Medical Inc. announced the closing of its $19.5 million Series C financing round. The proceeds will support the company's in vivo and clinical trials to develop a treatment platform that stabilizes small- to midsized aortic aneurysms by significantly reducing their growth rate. The financing round was led by new investor Boston Scientific Corporation.

According to Nectero Medical, the initial application of its platform is the Endovascular Aortic Stabilization Treatment (EAST) system, which has demonstrated early clinical results suggesting the potential to dramatically inhibit abdominal aortic aneurysm (AAA) disease growth. The EAST system is now treating AAA patients in a multisite phase 1 safety study.

The EAST system is expected to prevent rupture and inhibit further degradation of the aortic tissue with a simple, one-time catheter-based procedure that locally delivers a proprietary compound. By significantly reducing the growth rate and stabilizing the aneurysm tissue, the EAST system is expected to prevent aneurysmal rupture with a minimally invasive treatment that leaves no implant behind.

“An early treatment for AAA disease, such as Nectero’s EAST system, would be a major medical achievement,” commented Venkatesh Ramaiah, MD, an adviser for Nectero, in the company’s press release. “Sadly, more than 15,000 patients die each year in the United States from ruptured aneurysms, and many thousands more lead a suboptimal quality of life with lifelong surveillance. We have yet to develop a technology that stabilizes or inhibits the growth of these aneurysms. Nectero’s low-risk vascular procedure will provide this option for patients who otherwise are relegated to ‘active surveillance’ as well as for contraindicated patients who are too sick or otherwise not qualified to undergo surgery for AAA disease.”

The company noted that other potential applications of the Nectero technology platform include complementary and additional large markets such as thoracic aneurysms, aortic dissections, and neurovascular aneurysms, as well as cardiovascular and connective tissue disorders.