11 Jan, 2021, 08:00 ET
ST. LOUIS, Jan. 11, 2021 /PRNewswire/ -- InterShunt Technologies, Inc., an early-stage medical device company developing a novel catheter-based solution to reduce left atrial pressure in heart failure patients, announced today the completion of an equity financing. Funding will be used to support the research and development of the Percutaneous Atrial Shunt Catheter System (PAS-C™ System). The round was led by Solas BioVentures with participation from Arsenal Capital Management and a select group of industry executives.
David Adair, MD, MBA, Managing Partner of Solas BioVentures stated, "InterShunt's innovative and differentiated approach to create an interatrial shunt has the potential to provide significant clinical benefit in a space that has limited options. The ability to create a shunt without energy or hardware is attractive. Leaving nothing behind allows the body the best chance at superb outcomes. We seek out opportunities like InterShunt that use exquisite solutions based on physiology to help relieve human suffering. We are thrilled to lead this round in support of a company with such outstanding tech and industry legends."
Harlee Sorkin, CEO of InterShunt commented, "We're excited to have the Solas team back our vision to create a best-in-class interatrial shunt. Their investment coupled with Arsenal's long-standing support of our program enables us to advance our design and obtain key pre-clinical and human data."
About InterShunt Technologies, Inc.
InterShunt is developing a proprietary catheter system that allows for the capture and excision of tissue from the interatrial septum. The result is a left to right atrial shunt that off-loads elevated left atrial pressure, reducing symptoms in Heart Failure patients. The mechanical system is designed for safety and ease of use and is the only interatrial shunting device that requires no implant and no energy. For more information please visit https://intershunt.com/.
About Solas BioVentures
Solas BioVentures invests exclusively in the Life Science industry, focusing primarily on early and development stage Biotech and Medtech companies. Solas is headquartered in Chattanooga, Tennessee, but their coverage is global. The Investment Team combines decades of medical, biotechnology, operational, managerial, legal, and financial experience. Solas maintains a founder centric approach to foster breakthrough medicine and technology innovation.
About Arsenal Capital Management
Arsenal Capital Management is a venture capital firm based in St. Louis, MO that takes pride in the region and strives to make it a better place to live and work. Arsenal invests where the opportunities are best, with the objective of helping local entrepreneurs build successful companies. The goal is to provide investors with superior investment returns by identifying early capital opportunities within a fund structure that is transparent, focused and cost conscious.
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