Ablative Solutions, Inc. Announces Completion of the Fourth Tranche of its Series D Preferred Financing Round for Unique Therapeutic Approach to Treating Uncontrolled Hypertension

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WAKEFIELD, Mass., June 13, 2022 /PRNewswire/ -- Ablative Solutions, Inc., a company pioneering new approaches to the treatment of hypertension, today announced the completion of the fourth tranche of its Series D financing round, resulting in $91.4 million in aggregate proceeds to the Company from the Series D financing round. Gilde Healthcare, BioStar Capital, Invus Opportunities and an undisclosed strategic corporate investor led the multi-tranched Series D round of financing.

"We are extremely pleased with the completion of our Series D financing round and the continued support of our investors, despite the challenges of the COVID-19 pandemic", stated Kate Rumrill, President and CEO.

These funds are being used to complete our ongoing Target BPI pivotal trial, evaluating the Company's novel, alcohol-mediated renal denervation procedure to reduce blood pressure in individuals with uncontrolled hypertension, while taking antihypertensive medication. This procedure is performed using the Peregrine System™, an investigational combination product engineered to target nerves known to influence the body's regulation of blood pressure. The Peregrine System delivers small doses of dehydrated alcohol directly into the space outside of the renal artery to block the overactive signaling of the sympathetic nerves.

"We continue to be appreciative of the amazing group of clinical partners we have and the progress made in our studies within our TARGET BP Program" said Rumrill. "We are encouraged by these efforts and look forward to sharing results when available."

The Peregrine System Kit is comprised of two components, the Peregrine System Infusion Catheter and dehydrated alcohol. The Peregrine System Kit for renal denervation is not approved for commercial distribution and its use is limited to investigation within clinical trials in the United States and Europe. The Company is currently enrolling patients in the TARGET BP I pivotal trial to evaluate safety and efficacy in the treatment of patients with uncontrolled hypertension in conjunction with antihypertensive medications. More information about the TARGET BP I Trial can be found at www.targetbp1.com. 

The Peregrine System Infusion Catheter has been cleared via the premarket notification process (510(k)) for the infusion of diagnostic and therapeutic agents into the perivascular area of the peripheral vasculature. The Peregrine System Infusion Catheter is CE marked for the infusion of a neurolytic agent (e.g. alcohol) to achieve a reduction in systemic blood pressure in hypertensive patients. The Peregrine Catheter is not commercially available in the United States or Europe.

Ablative Solutions, Inc., based in Wakefield, MA, was founded in 2011 with a vision to address the unmet need of hypertension. Ablative Solutions' approach targets the overactive sympathetic nervous system, which may play a role in hypertension, heart failure, kidney disease, metabolic syndrome and sleep apnea. The Peregrine System is currently being investigated as a treatment for hypertension in conjunction with antihypertensive medications. For more information visit www.ablativesolutions.com.

Media contact: Tom Moore, [email protected]

SOURCE Ablative Solutions, Inc.