New funding: Seattle-based medical technology company Healionics raised a $4.7 million round led by Keiretsu Capital to help commercialize its artificial blood vessel called STARgraft for patients who undergo dialysis treatment.
Patients with failed kidneys can undergo dialysis several times per week to filter waste from the bloodstream. In administering the treatment, physicians often use a vascular graft to maintain access to the bloodstream, but current grafts often fail due to blockages, also known as vascular occlusion. STARgraft aims to provide high resistance to occlusion.
“We are targeting early next year for commercial launch of STARgraft,” Healionics CEO Mike Connolly said in a statement. “This novel synthetic blood vessel, based on our proprietary STAR biomaterial technology, has the potential to improve the lives of dialysis patients by reducing the frequency and severity of infections and the frequency of interventions required to maintain dialysis access.”
The cash will be used to complete a second human study and obtain FDA clearance. Healionics also said it converted $5.2 million in outstanding notes and interest to equity.