December 3, 2019
Venclose Receives Funding to Support Product Portfolio
December 3, 2019—Venclose, Inc. announced that it has closed Series C funding of $27 million that will be used to expand commercialization and support development of the company’s portfolio of products to address venous reflux disease.
The Venclose system is the company’s next-generation endovenous radiofrequency ablation system designed to close a damaged vein and restore healthy blood flow in patients with venous reflux disease. It is commercially available in the United States and Europe.
With the closing of this funding, Venclose anticipates that it will have the necessary funds to accelerate its commercial footprint in the United States, expand globally, and invest in selective product portfolio additions.
The funding is led by Ally Bridge Group, a global lifescience-focused investment group supporting high-growth innovative life science companies.