Key Highlights
- $96 million raised in Series D funding to boost Nectero Medical’s Phase II/III trials and FDA submission.
- Norwest Venture Partners leads the round, with significant contributions from Boston Scientific and other key investors.
- Dr. Zack Scott (Norwest) and Dr. Alan Davis (BioStar Capital) join Nectero’s Board of Directors.
Source: Business Wire
Notable Quotes
- “We are pleased to have raised the funds required to complete the necessary work to bring our potentially transformative technology to market.” – Jack Springer, President & CEO at Nectero Medical
- “The Nectero EAST System has the potential to have a profound impact on the hundreds of thousands of patients living with aneurysmal disease.” – Dr. Zack Scott, General Partner at Norwest Venture Partners
- “FDA has granted Breakthrough Therapy designation for the Nectero EAST System, acknowledging that the preliminary clinical evidence indicates substantial improvement over available therapy.” – Dr. Alan Davis, Managing Director at BioStar Capital
SoHC's Take
The successful closure of this Series D financing round for Nectero Medical marks a significant milestone in the advancement of treatment for aneurysmal diseases. The involvement of high-profile investors underscores the potential of the Nectero EAST System to revolutionize this area of healthcare. As this trial moves forward, the medical community eagerly anticipates the results that may redefine approaches to treating abdominal aortic aneurysms, potentially improving outcomes for thousands of patients nationwide. This initiative not only highlights the innovation in medical technologies but also emphasizes the critical role of venture capital in bringing groundbreaking treatments to market.
