The PennZone

WEST CHESTER, Pa., Aug. 25, 2021 /PRNewswire/ -- VESTECK, Inc., an early-stage medical device company, is pleased to announce its initial close on $4.3M of Series A financing, which includes conversion of all existing convertible notes.

The New World Angels (www.newworldangels.com) of S. Florida, led the Series A round with a $1.1 million investment.  The New Word Angels were joined by Florida-based DeepWork Capital and Ocean Azul Partners, as well as a number of Philadelphia-based investors, including Ben Franklin Technology Partners of Southeastern Pennsylvania, Robin Hood Ventures and the Delaware Crossing Investor Group. The Series A funds will support the manufacturing of products, pre-clinical testing and completion of in human procedures, prior to our clinical study for FDA clearance.

VESTECK has designed a platform technology comprised of 6 devices that integrate the delivery of nitinol sutures into a catheter, improving clinical outcomes for endovascular aortic aneurysm patients.

More on The PennZone

• Meet Privateer: Tucson's High-Tech Security Force Built With Paramilitary Precision
• Dynamic Dachshund Dog Goes Global: Remember Point Launches a New Bilingual Children's Book
• DARPA Selects NRx Pharmaceuticals Defense Subsidiary for Contract Negotiations on FDA-Authorized SPARC-TMS Clinical Trial Advancing Mental Health Care
• From the Racetrack to the Boardroom: Aston Martin and Aramco Formula One Partnership Accelerates Circle8 Group: (N A S D A Q: CIRC)
• SKRAP Finds Hope Through Heartache on Powerful New Single "Shellshock"

The "Suture-Tight" catheter delivers nitinol sutures more easily than current endovascular or surgical options, securing endovascular aortic repair grafts to the aorta at initial implant or in repair procedures.  Dr. David H. Deaton, Chief Medical Officer, says, "the Suture-Tight catheter makes the process faster, easier and safer for surgeons and patients.  Suture-Tight will become the standard of care."  Vesteck expects to bring significant incremental revenue to an aortic repair market projected to be $4.5B by 2028.

VESTECK CEO Joe Rafferty stated, "We are truly honored that a consortium of such distinguished early-stage investors led by New World Angels believe in our plan, our team and our technology.  We are committed to proving their trust in us was accurate by helping solve this significant unmet need."

Commenting on the investment, Steve O'Hara, president of New World Angels, said, "We are delighted to support Joe Rafferty and his team at Vesteck as they seek to improve patient outcomes for a number of less invasive surgeries, starting with endovascular aortic repair procedures."

More on The PennZone

• CodesClue: A Trusted AI-Based Software Development Company for Global Businesses
• U.N. Committee Reiterates Forced Psychiatric Detention a Human Rights Violation; CCHR Calls on the U.S. to Implement Protections
• Valgar LLC Launches The Briefing Room: Education Leaders
• New Novel WINCE Takes Unflinching Aim at American Gun Culture and Masculinity
• New Research Puts the Cost of Enterprise Decision Delay at $630 Billion a Year Across the Global 2000

VESTECK was represented by Kevin M. Granahan of Fox Rothschild LLP.  The New World Angels were represented by Mark R. Mohler of Corridor Legal Partners, LLP.

About Vesteck Inc.:

VESTECK, Inc. (WWW.VESTECK.com) is an early-stage medical device company focused on bringing their proprietary technology to the aortic repair, structural heart and GI markets.

Their first product, the "Suture-Tight" nitinol suture delivery catheter will bring a novel technology to endovascular aortic repair market solving a significant global challenge for physicians and patients.

MEDIA CONTACTS:
New World Angels	VESTECK, Inc.
Sarah Lucas	Joe Rafferty
COO	CEO
(617) 894-5156	610-457-7324

SOURCE VESTECK, Inc.

Related Links

http://VESTECK.com

---

Show All News | Disclaimer | Report Violation