Vesper Medical Secures $37 Million in Venture Funding to Advance Vesper Duo Venous Stent System for Deep Vein Disease

VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Vesper Medical, a medical device company specializing in minimally invasive peripheral vascular surgery, recently announced the completion of a $37 million venture financing round. The round was led by Vensana Capital and Gilde Healthcare, with participation from existing investors New Enterprise Associates (NEA) and Quaker Partners. The first tranche of this financing has been closed, and Vesper Medical will receive the remaining funds upon achieving key milestones.

Vesper Medical stated that it plans to use the funding to complete the development of its innovative dual-vein stent system, Vesper Duo, including conducting pivotal large-scale clinical trials and subsequently submitting a Pre-Market Approval (PMA) application to the FDA. A portion of the funds will also be used to submit an application to the European Union to obtain CE marking for the Vesper Duo stent.

It is reported that Vesper Medical previously completed a $9 million venture financing round in November 2016 and a $10.5 million Series A financing round in May 2018.

Vesper Medical is a private medical device company primarily focused on developing medical devices for minimally invasive peripheral vascular procedures. The company is advancing the research and development of treatments for deep vein disease, creating a portfolio of highly differentiated, targeted venous stent systems to address the various anatomical challenges associated with the iliac and femoral veins in clinical practice. Vesper Medical is a subsidiary of Intact Vascular, which is dedicated to developing innovative treatments for peripheral artery disease.

Deep vein disease occurs when deep veins in the pelvis or upper extremities are obstructed by blood clots or compressed and narrowed, leading to impaired blood outflow from the legs (or increased vascular resistance) and elevated pressure within the affected veins. This condition can result in severe leg swelling, pain, skin discoloration, and even skin ulcers. Deep vein disease affects millions of people worldwide. Current mainstay treatments include compression stockings and blood thinners (oral anticoagulants), which provide temporary symptom relief but do not cure the underlying venous obstruction or stenosis.

Justin Klein, Managing Partner at Vensana Capital, stated, “Deep vein disease is one of the frontier areas in endovascular medicine. We are delighted to support the Vesper Medical team in continuously advancing treatment options for patients with deep vein disease.”

Bruce Shake, President and Chief Executive Officer of Vesper Medical, said, “This financing provides us with the necessary capital to rapidly advance the development of the Vesper Duo stent system and bring this important technology to the 25 million American adults affected by deep vein disease.”

Vensana Capital, established in 2019, is a venture capital and growth equity investment firm that primarily invests in innovative medical technology companies in the late-stage development and commercialization phases. Its investment areas include medical devices, diagnostics, drug delivery, digital health, and technology-enabled services. The Vensana investment team has collaborated with many industry-leading companies, including Cameron Health, CardiAQ, Cartiva, CV creative, Epix Therapeutics, Lutonix, Neuwave Medical, Sequent Medical, Topera, Ulthera, and VertiFlex.

Gilde Healthcare is a specialized European healthcare investment firm managing €1 billion ($1.2 billion) in funds, encompassing both venture capital and private equity. The firm primarily engages in late-stage venture capital investments, targeting companies across Europe and North America in the fields of medical technology, diagnostics, digital health, and disease treatment. Additionally, Gilde Healthcare conducts mid-market buyouts, focusing on profitable healthcare service companies in the Benelux and DACH regions of Europe. Currently, Gilde Healthcare deploys capital through its Gilde Healthcare IV fund, which receives partial funding from the European Recovery Program–European Investment Fund.

New Enterprise Associates is a global venture capital firm dedicated to helping entrepreneurs build transformative companies across multiple stages, industries, and geographies, with investment participation ranging from the seed stage to IPO. Since its founding in 1977, the firm has deployed more than $19 billion in capital. To date, NEA has invested in over 210 companies that have gone public and completed more than 360 acquisitions.

Quaker Partners is a venture capital firm. The company primarily invests in healthcare companies across all stages on the U.S. East Coast, with investment areas including pharmaceuticals, biotechnology, healthcare services, and medical technology (such as medical device development and human diagnostics). Quaker manages over $700 million in committed capital and, since its establishment in 2002, has invested in dozens of highly influential innovative healthcare enterprises.

(Compiled by Tang Lulu)