KNOXVILLE, Tenn., June 24, 2016 /PRNewswire/ -- Arkis BioSciences, a leading innovator in the neurosurgical market providing less invasive and more durable cerebrospinal fluid treatments, today announced it has secured $3.4 million in funding. The Series-A funding is led by Innova Memphis, followed by Angel Capital Group, the Lighthouse Fund, and other private investors. Arkis' new financing will accelerate the commercialization of its less-invasive neurosurgical instrumentation and the market release of its in-licensed Endexo® technology.
"The success of this financing round underscores the confidence in Arkis' solutions to address the longstanding underserved needs of the market and the value of our strategy," said Chad Seaver, CEO of Arkis BioSciences. "Arkis' next generation Endexo® lumens and streamlined surgical instrumentation are just the beginning of a pipeline of R&D innovations backed by strong investor support, positioning Arkis to become the clear innovator in patient care and provider efficiency in our market."
"Arkis BioSciences represents best-in-class technology truly addressing the needs of both provider and patient with a very experienced management team," said Ken Woody of Innova Memphis. "We are pleased to take part in this financing round. The company plans to attack the inefficiencies found in current treatments plaguing healthcare providers and patients alike. In our view, Arkis' solutions will enhance patient care, reduce readmissions, and streamline surgeries to address the high demands expected of modern healthcare."
About Arkis BioSciences
Arkis BioSciences offers next generation surgical tools and implantables for advancing the treatments of intracranial hypertension arising from traumatic brain injury, hemorrhagic stroke, hydrocephalus, and similar disorders. Arkis' Tunneling Guidewire™ allows for 1/3 less invasive ventriculoperitoneal shunt procedures while its Endexo® anti-thrombogenic catheters are slated for addressing catheter obstructions for more durable treatments. Further innovations within the company's R&D are poised to overall transform the market for intracranial hypertension treatments. www.arkisbiosciences.com
About Innova Memphis
Innova invests in early-stage, high-growth companies that have the potential to grow into significant economic contributors. Our focus is on companies with strong intellectual property or other competitive advantages in the Biosciences, Technology, and AgriTech fields. www.innovamemphis.com
SOURCE Arkis BioSciences