Touchstone Innovations notes Veryan Medical's announcement that it has received a further £13.5m of funding. The new equity funding has been secured from existing investors, including Touchstone Innovations, supported with a €5m loan form Silicon Valley Bank.
This new funding follows the achievement of several significant milestones in 2016, including the completion of enrolment into the MIMICS-2 IDE study in the US, Germany and Japan; the publication of the results from the Mimics Randomised Controlled Trial in Circulation: Cardiovascular Interventions; the first 50 subjects enrolled into the MIMICS-3D Registry; and continued strong commercial adoption in European markets.
Chas Taylor, CEO of Veryan Medical, said:
“This funding round is reflective of growing excitement in BioMimics 3D and the benefits of swirling flow. Veryan is developing an important clinical dataset of approximately one thousand patients in both primary stenting and bail-out procedures in conjunction with drug coated balloons. This investment will allow the Company to continue its progress towards US and Japanese regulatory approvals.”