Copy of VenoStent Closes Seed Round; Awarded NSF Phase II Grant
Q2 of 2019 was a banner quarter for VenoStent, having been awarded a Phase II SBIR Grant through the National Science Foundation for approximately $750K and closing our first priced, equity round. We are extremely grateful to the many stakeholders involved in both of those efforts for their vote of confidence and continued support. We hope our efforts moving forward will yield great results for all.
Phase II NSF Grant
Our grant, entitled, “Hemodynamic Optimization and Preclinical Assessment of a Shape Memory Polymer Wrap to Reduce Hemodialysis Access Site Failures," will be in collaboration with a number of academic and medical institutions including Rice University, Houston Methodist Research Institute, Vanderbilt University, and the Yale School of Medicine.
End-stage renal disease and associated fistula failures affects hundreds of thousands of patients in the United States and costs Medicare billions of dollars each year. With this grant, we will be examining the hemodynamic affects of our SelfWrap on AV fistulas towards the goal of reducing access site failures for patients on dialysis.
Priced Equity Round
Equally exciting and humbling, we are pleased to announce that we have closed our first priced equity round, led by Fort Worth-based Cowtown Angels, who also led our last round in March 2018. Thanks to their
We were able to open and close the round in roughly one week with the fantastic efforts of our friends and participants in our previous rounds, Cowtown Angels and the Texas HALO fund in Forth Worth and Houston, respectively.
These funds will be put towards further large animal work, biocompatability testing, manufacturing transfer, and other strategic efforts, looking forward to our eventual FDA approval.
We greatly appreciate all the faith that has been put in us and intend to be superior stewards of both taxpayer and investor money.