Shape Memory Medical: Revolutionizing Endovascular Treatments
March 9, 2024, 11:04 am
Location: United States, California, Santa Clara
Employees: 11-50
Founded date: 2009
Total raised: $38M
Shape Memory Medical, a pioneer in custom shape memory polymers for endovascular applications, has secured a massive $38 million in Series C funding. The financing, spearheaded by Earlybird Venture Capital, signifies a major milestone for the company as it continues to innovate and transform the medical landscape.
The company's proprietary shape memory polymer is a game-changer in the field of endovascular embolization. This low-density and porous embolic material is designed to be crimped for catheter delivery and self-expand upon contact with blood, facilitating rapid conversion to organized thrombus. With unique properties such as vascular space-filling, radiolucency, low radial force, and the ability to stimulate the immune response and healing system, Shape Memory's technology is setting new standards in patient care.
In a recent development, the Food and Drug Administration (FDA) has granted investigational device exemption (IDE) for Shape Memory Medical to conduct a prospective, multicenter, randomized trial. This trial aims to evaluate the safety and efficacy of the IMPEDE-FX RapidFill Device in improving abdominal aortic aneurysm (AAA) sac behavior when used in conjunction with elective endovascular aneurysm repair (EVAR). This marks a significant step forward in the company's mission to revolutionize endovascular treatments.
Ted Ruppel, the president and CEO of Shape Memory Medical, expressed his excitement about the funding, stating that it will accelerate the clinical and market development of their shape memory polymer technology for aortic and peripheral vascular markets. The funds will also support the AAA-SHAPE Pivotal Trial, a randomized controlled study comparing EVAR plus sac management with IMPEDE-FX RapidFill to stand-alone EVAR. Additionally, the funding will fuel research and development efforts for the company's product pipeline and expand sales and marketing strategies to meet the growing demand for their commercially-available IMPEDE Embolization Plug family of devices.
Thom Rasche, a Partner at Earlybird Venture Capital and the newest addition to the Shape Memory Medical Board, commended the company's innovative approach to embolization. With millions of people worldwide affected by AAA and thousands of annual deaths due to rupture, Shape Memory Medical's groundbreaking concepts for managing aortic aneurysms have the potential to transform the treatment landscape.
Shape Memory Medical's successful completion of $38 million in Series C funding is a testament to the company's commitment to pushing boundaries and delivering cutting-edge solutions in the field of endovascular medicine. As they continue to pave the way for advancements in patient care, the future looks bright for Shape Memory Medical and the countless individuals who stand to benefit from their groundbreaking technology.
The company's proprietary shape memory polymer is a game-changer in the field of endovascular embolization. This low-density and porous embolic material is designed to be crimped for catheter delivery and self-expand upon contact with blood, facilitating rapid conversion to organized thrombus. With unique properties such as vascular space-filling, radiolucency, low radial force, and the ability to stimulate the immune response and healing system, Shape Memory's technology is setting new standards in patient care.
In a recent development, the Food and Drug Administration (FDA) has granted investigational device exemption (IDE) for Shape Memory Medical to conduct a prospective, multicenter, randomized trial. This trial aims to evaluate the safety and efficacy of the IMPEDE-FX RapidFill Device in improving abdominal aortic aneurysm (AAA) sac behavior when used in conjunction with elective endovascular aneurysm repair (EVAR). This marks a significant step forward in the company's mission to revolutionize endovascular treatments.
Ted Ruppel, the president and CEO of Shape Memory Medical, expressed his excitement about the funding, stating that it will accelerate the clinical and market development of their shape memory polymer technology for aortic and peripheral vascular markets. The funds will also support the AAA-SHAPE Pivotal Trial, a randomized controlled study comparing EVAR plus sac management with IMPEDE-FX RapidFill to stand-alone EVAR. Additionally, the funding will fuel research and development efforts for the company's product pipeline and expand sales and marketing strategies to meet the growing demand for their commercially-available IMPEDE Embolization Plug family of devices.
Thom Rasche, a Partner at Earlybird Venture Capital and the newest addition to the Shape Memory Medical Board, commended the company's innovative approach to embolization. With millions of people worldwide affected by AAA and thousands of annual deaths due to rupture, Shape Memory Medical's groundbreaking concepts for managing aortic aneurysms have the potential to transform the treatment landscape.
Shape Memory Medical's successful completion of $38 million in Series C funding is a testament to the company's commitment to pushing boundaries and delivering cutting-edge solutions in the field of endovascular medicine. As they continue to pave the way for advancements in patient care, the future looks bright for Shape Memory Medical and the countless individuals who stand to benefit from their groundbreaking technology.