Inquis Medical has closed its $40m Series B oversubscribed financing round for expediting the advancement of its Aventus Thrombectomy System intended to address venous thromboembolism.
This round was led by investment company Marshall Wace, with participation from existing investors, including EnPointe Ventures, Pierre Lamond, ShangBay Capital and Yu Star.
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The funds are earmarked for significant growth and development as the company prepares for the commercialisation of its Aventus Precision Thrombectomy System used to treat thromboembolic diseases.
Inquis Medical co-CEO and co-founder Vahid Saadat said: “We are thrilled to have successfully secured our Series B funding. This is a strong validation of the confidence investors have in our mission and the potential impact of our innovations.”
The company’s flagship product, the Aventus Precision Thrombectomy System, provides real-time feedback on tissue composition during procedures, offering precision and control.
Earlier this year, the system received 510(k) clearance from the US Food and Drug Administration (FDA) and Inquis Medical is nearing completion of enrolment in an investigational device exemption (IDE) pivotal trial targeting patients with pulmonary embolism.
With this latest capital injection, the company will be able to complete its pivotal IDE trial and prepare for the system’s commercial launch next year.
Marshall Wace portfolio manager Andrew Goldberg joined the board of directors of Inquis Medical in connection with the financing.
Inquis Medical co-CEO and co-founder Mojgan Saadat said: “This substantial investment from Marshall Wace, along with our existing investors, underscores a strong belief in both our technology and our team.
“We are excited for the next phase of the company and look forward to enhancing patient care by empowering physicians with our unique technology.”
