Oxford Endovascular has announced that it has raised US$10 million in a series A funding round for the development of its OxiFlow micro stent, an “origami” engineered medical device intended for the prevention of brain haemorrhage.
According to the company, the OxiFlow is a minimally invasive device inserted via the groin access. It lies across the base of the aneurysm and causes it to shrink and heal. Spun out of the University of Oxford and developed by professors of neuroradiology and engineering, this novel, next-generation flow-diverter can be placed more accurately and safely than existing treatments, reducing the risk of complications and having to use multiple devices, Oxford Endovascular claims.
Mike Karim, CEO of Oxford Endovascular (Oxford, UK), said: “One of the biggest challenges when it comes to treating neurovascular disease is having devices with high efficacy whilst minimising adverse events. Studies show that often multiple attempts are made to place treatment devices, as they often have challenges of landing accurately, opening and maintaining position. This can lead to adverse events and multiple devices being used. Procedures typically cost over US$50,000 to treat a brain aneurysm and a next-generation flow diverter overcoming unmet needs, offers the chance for more effective, safer and cost-effective treatments as well as allowing many more patients to benefit. We plan to use this funding to bring Oxford Endovascular’s ground-breaking technology to the next stage and gain clinical data from human studies.”