FREMONT, Calif. and ST. LOUIS, Sept. 8, 2016 /PRNewswire/ -- VENITI, Inc., a leader in the advancement of treatment for deep venous disease, has closed on $25 million in Series D equity financing from Boston Scientific Corporation. The funds will allow VENITI to complete the VIRTUS Trial and regulatory filing for the VICI VENOUS STENT® System. The trial is being performed under a U.S. Food and Drug Administration (FDA) Investigational Device Exemption (IDE). The company also intends to expand product development and commercial operations.
"We are extremely pleased to be partnering with such a high quality industry leader to advance our core technology, the VICI VENOUS STENT," said Jeff Elkins, President and CEO of VENITI, Inc. "This financing will allow us to complete a number of critical milestones and support more physicians treating patients suffering from venous outflow obstruction around the world."
Venous disease affects millions of people worldwide and is marked by symptoms which include progressive leg pain and swelling, leg heaviness and skin changes. Physicians may choose to treat the obstructive component of venous disease through minimally-invasive endovascular stenting procedures. The VICI VENOUS STENT System was designed from inception to meet the unique challenges of the venous system, providing physicians with a balance of crush resistance, flexibility and ease of deployment.
Citigroup Global Markets Inc. acted as exclusive financial advisor to VENITI in connection with the transaction.
About VENITI, Inc.
VENITI, Inc. is dedicated to advancing the treatment of venous disease through clinical research and innovative technology and solutions. VENITI partners with leading physicians in the development and training for therapies to care for the millions of patients suffering from venous disease. The VICI VENOUS STENT and VICI VERTO VENOUS STENT were developed specifically for the challenges of treating iliofemoral venous outflow obstruction. VENITI was founded in 2010 and is headquartered in St. Louis, MO, with technical operations in Fremont, CA. The VICI VENOUS STENT and VICI VERTO VENOUS STENT are CE marked under the European Medical Devices Directive (93/42/EEC) and commercially available in Europe. The VICI VENOUS STENT is approved by the Australian Therapeutic Goods Administration and commercially available in Australia. CAUTION: Investigational device. Limited by United States law to investigational use. The VICI VERTO VENOUS STENT is not approved for sale in the United States. VENITI and VICI VENOUS STENT are registered trademarks of VENITI, Inc. VICI VERTO VENOUS STENT is a trademark of VENITI, Inc. ©2016 VENITI, Inc. All Rights Reserved. Produced in the U.S. Learn more about VENITI and its products at www.veniti.com
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SOURCE VENITI, Inc.