PQ Bypass Secures $60M in Equity Financing to Advance Minimally Invasive DETOUR Procedure for Peripheral Artery Disease

VCBeat (WeChat ID: vcbeat) has learned that medical device company PQ Bypass recently completed a $60 million equity financing round, led by Deerfield Management, with participation from existing investors Seroba Life Sciences and MedTech Venture Partners.

In 2016, PQ Bypass secured $10 million in venture capital funding. To date, the company has raised a total of $70 million. Following this round of financing, PQ Bypass will convert $15 million in outstanding convertible notes and accrued interest into equity. The proceeds from this round will be used to advance the company’s clinical technology development for the treatment of chronic leg artery occlusions caused by peripheral artery disease (PAD).

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PQ Bypass, founded in 2009, is a medical device company dedicated to developing therapeutic solutions for patients with peripheral artery disease (PAD). In PAD patients, prolonged accumulation of fatty deposits in the arterial walls of the legs obstructs blood flow to the lower extremities and feet, leading to loss of ambulation in many cases and, in severe instances, necessitating amputation. To address this, PQ Bypass has developed a novel technology for PAD treatment: percutaneous stent bypass, known as the DETOUR technique.

The technology developed by PQ Bypass offers the advantages of a minimally invasive approach. During the procedure, PQ Bypass utilizes proprietary stent-graft technology to redirect oxygen-rich blood, thereby restoring circulation to the lower legs and feet of patients with peripheral artery disease (PAD). Andrew ElBardissi, MD, of Deerfield Management, stated, “This technology developed by PQ Bypass has the potential to become the standard of care for PAD patients, enabling better treatment outcomes and reducing the costs associated with managing occlusive lesions.”

Richard Ferrari, Chairman and CEO of PQ Bypass, stated, “PAD is a disease that affects millions of people worldwide. With this funding, we will join forces with Deerfield Management to intensify our R&D efforts and develop better treatments for patients with PAD.”

Peripheral Artery Disease (PAD) is a vascular disease affecting regions outside the heart, characterized primarily by the deposition of lipids along the walls of leg arteries, leading to arterial stenosis and occlusive lesions that predominantly impair the arteries of the lower extremities and feet. PAD primarily affects older adults, and with the aging of the population, it has become an increasingly prevalent epidemic.

Deerfield Management, established in 1993, is a global investment advisory firm. With comprehensive expertise in the healthcare industry and a focus on diverse financing challenges, Deerfield Management tailors innovative and flexible financing strategies for its partners.

Seroba Life Sciences is a venture capital firm investing in the life sciences sector. It invests globally in companies researching breakthrough medical technologies and is committed to collaborating with outstanding entrepreneurs worldwide to develop novel medical devices, diagnostic methods, and therapeutic drugs.

MedTech Venture Partners, established in 2015, is a venture capital firm specializing in seed-stage and early-stage medical device companies. To date, MedTech Venture Partners has participated in the research and launch of more than 30 medical devices and diagnostic products. With extensive experience, MedTech Venture Partners helps medical device companies achieve success.