Intact Vascular Secures $25 Million in Series D Funding to Expand Market Reach of Tack Endovascular System

On May 30, 2019, VCBeat (WeChat Official Account: vcbeat) learned that Intact Vascular had completed a $25 million financing round to expand the market for its Tack Endovascular Repair System. The round was led by Vensana Capital, with participation from New Enterprise Associates, HIG BioHealth Partners, and Quaker Partners. Intact Vascular stated that the first tranche of the financing had been completed, with the remaining portion to be closed in 2020.

It is reported that Intact Vascular has completed eight rounds of financing. In May 2015, the company closed a $38 million Series B round led by New Enterprise Associates. In April 2018, it closed a $20 million Series C round, also led by New Enterprise Associates.

Intact Vascular, established in 2011, is a privately held medical device company headquartered in Wayne, Pennsylvania. Intact Vascular is dedicated to developing safe, effective, and user-friendly products for patients with vascular diseases.

The Tack Endovascular System is a dissection repair device implanted after angioplasty in patients with peripheral artery disease (PAD). This system provides precise treatment for dissections in peripheral arteries above or below the knee following balloon angioplasty. The safety and efficacy of the Tack Endovascular System were confirmed in a clinical trial involving 213 patients. The system comes pre-loaded with six self-expanding nitinol implants for above-the-knee interventions, enabling the treatment of multiple dissections with a single catheter while leaving 70% less metal behind compared to stents. Furthermore, the Tack Endovascular System minimizes the risk of vascular inflammation and promotes wound healing.

Notably, the device received the EU CE Mark certification in January 2017 and obtained FDA approval for market launch in April 2019.

Bruce Shook, President and CEO of Intact Vascular, stated, “We are delighted to welcome Vensana Capital to the Intact Vascular team. As we are in a phase of rapid growth, Vensana Capital’s extensive experience in medical technology will drive the commercialization of our products.”

Justin Klein, Managing Partner at Vensana, added, “Endovascular repair technology is at a technological inflection point. The Tack Endovascular Repair System, developed by the Intact Vascular team, features unique technology and robust clinical trial results, which have enabled the company to achieve significant commercial success. Vensana Capital is pleased to support Intact Vascular in achieving broader market commercialization.”

Vensana Capita, established in 2019, is a venture capital and growth equity investment firm. Founded by Kirk Nielsen and Justin Klein, the company is dedicated to partnering with breakthrough medical technology companies and innovative healthcare enterprises. Vensana Capita focuses on investing in sectors such as medical devices, diagnostics, drug delivery, digital health, and technology services.

New Enterprise Associates, established on January 1, 1977, is a global venture capital firm investing in the fields of medical technology and healthcare. Headquartered in Menlo Park, California, USA, the company has cumulatively invested over $19 billion since its inception, backed more than 210 companies, and participated in over 360 acquisitions.

HIG BioHealth Partners is a life sciences investment firm based in Miami, Florida, focusing on investments in therapeutics, medical devices, and diagnostics. The company has extensive investment experience in pharmaceuticals, small biotechnology firms, medical devices, diagnostics, basic science, clinical research, and technology transfer.

Quaker Partners, established in 2002, is a healthcare investment firm based in Philadelphia, Pennsylvania. The company has extensive investment experience in the pharmaceuticals, biotechnology, healthcare services, and medical technology sectors. Since its inception, Quaker has invested in dozens of high-impact, innovative healthcare companies and manages over $700 million in assets.

(Compiled by Song Chenchen)