October 16, 2018
InnAVasc Medical preps for clinical trial with new funder
A Durham-based medical technology company is stocking up investment in preparation to enter clinical trials.
InnAVasc Medical, founded by Duke University surgeons and scientists, recently reported a $500,000 fundraising round, which CEO Joseph Knight says will be used, in part, for costs associated with going into clinical trials.
An arteriovenous graft modification that bills itself as the “first error proof dialysis graft” is the company’s primary technology. Designed to resist posterior and sidewall needle penetration and energy, the company says the graft reduces the potential for device failures associated with repeated vascular access.
Recent fundraising for the company began Oct. 3, offering $1.5 million in equity of which $500,000 was sold to 17 investors.