Nectero Medical Secures Funds in Fight Against Advancing Abdominal Aortic Aneurysm
Nectero Medical Inc., a pioneering medical technology company based in Tempe, Arizona, has reached a significant milestone in its mission to revolutionize the treatment of abdominal aortic aneurysm (AAA). With the successful closure of a $96 million Series D financing round, Nectero is poised to accelerate the development of its innovative abdominal aortic aneurysm treatment.
Led by Norwest Venture Partners, the Series D round saw substantial contributions from renowned firms such as Boston Scientific, BioStar Capital, Cadence Healthcare Ventures, and Aphelion Capital. This substantial investment will propel Nectero’s Phase II/III stAAAble trial forward and support the submission of an FDA new drug application for its groundbreaking Nectero EAST system.
The Nectero EAST system represents a new approach to AAA treatment, offering a minimally invasive solution with the potential to transform patient outcomes. Designed as an endovascular aneurysm stabilization treatment, EAST features a dual-balloon delivery catheter and a proprietary stabilizer mixture containing pentagalloyl glucose (PGG). This innovative approach strengthens the aortic vessel wall by delivering PGG locally into the aneurysmal wall, reducing the risk of further degradation and rupture.
One of the key advantages of the EAST system is its simplicity and efficiency. The procedure requires no specialized tools and can be completed in less than an hour, offering a streamlined alternative to traditional open surgery. Moreover, EAST leaves behind no permanent implant and does not preclude future interventions, providing patients with a versatile and effective treatment option.
With FDA fast track designation granted last August, Nectero is well-positioned to accelerate the development and regulatory approval of its groundbreaking technology. The addition of Dr. Zack Scott and Dr. Alan Davis to the Nectero board of directors further strengthens the company’s leadership team, bringing invaluable expertise and insight to guide its future growth and success.
AAA poses a significant health risk, affecting approximately 1.4% of individuals aged 50 to 84 in the United States. With aging, tobacco use, and certain medical conditions contributing to the weakening of the aorta’s wall, the need for innovative treatment options is more pressing than ever. Nectero’s commitment to advancing AAA treatment represents a beacon of hope for patients and healthcare providers alike, offering the promise of improved outcomes and enhanced quality of life.
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