Recana catheter system. (Image from InterVene website) InterVene today announced that it has raised $13 million in a Series A funding round to support its Recana catheter system.
New investor Treo Ventures and existing investor RiverVest Venture Partners co-led the round. In connection with this financing, Brad Vale, Founding General Partner of Treo Ventures, will join InterVene’s Board of Directors.
Redwood City, Calif.-based InterVene plans to use the funding to support the final development of the Recana catheter system. Funding will also support clinical case initiation, regulatory submissions, and market authorization in the United States. Additional funding may be used to prepare for early commercialization and post-market clinical studies.
InterVene designed Recana to recanalize and restore patency to chronically occluded deep veins and venous stents. It is particularly targeted when recanalization capacity is limited or when long-term chronic stent maintenance is required. Recana utilizes standard fluoroscopy/IVUS-guided interventional techniques.
Vascular specialists who already perform deep vein thrombosis (DVT) treatment or deep vein stenting can easily implement Recana, the company says.
“RiverVest and Treo Ventures have a strong track record in the emerging endovascular space, and InterVene is excited to have their support as Recana reaches its final stages of development,” said Jeff Elkins, InterVene CEO. says Mr. “We are excited to collaborate with this experienced and proven team on such an important opportunity to support physicians and their patients with venous disease.”
