Utah-based interventional medical devices company Scientia Vascular has received $50m of growth equity financing from global healthcare investment firm Vivo Capital.
The company intends to use the funding to advance the sales, marketing, and new product development in its core neurovascular stroke market, along with peripheral vascular and interventional oncology markets.
Vivo Capital managing director Joseph Siletto said: “Neurovascular surgery and in particular, stroke treatment, is one of the most exciting segments in the medical device sector.
“We have been searching for a platform medical device company in the neurovascular surgery space for a long time. We are honored to partner with John Lippert, a pioneer in the field, and the veteran team he has assembled at Scientia Vascular.”
Established in 2018, Scientia has developed a portfolio of highly differentiated neurovascular products, leveraging its novel microfabrication technology.
The company claimed that its neurovascular products are being used at top comprehensive and primary stroke centres in the US.
In addition, its Aristotle guidewires have become an essential tool for many of the top neurosurgeons in the country, in less than three years from its commercial launch, according to the company.
Scientia has recently received the US Food and Drug Administration (FDA) approval for its Plato 17 microcatheter, which leverages microfabrication technology to enhance trackability, control, and stability.
Vivo Capital managing director Mahendra Shah said: “In the medical device space, Vivo focuses on finding technologically differentiated, founder-owned companies looking to partner with a growth-oriented investment firm with deep expertise in healthcare. We look forward to helping Scientia grow in the years ahead.”
In August last year, Scientia announced that it received FDA clearance for its Zoom Wire 14 guidewire line of interventional guidewires.
The guidewire are designed to gain access during ischemic and hemorrhagic stroke and other challenging neurovascular and peripheral vascular procedures.
