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

• FDA Clears Major Regulatory Hurdle as Preservative-Free Ketamine Program Moves Within Reach of Commercialization: NRx Pharmaceuticals: (NAS DAQ: NRXP)
• Autonomous Robotics Platform Expansion as Public Market Debut is Very Close: MBody AI Corp. (N A S D A Q: MBAI)
• Loud! OOH calls for prize draw advertising standards as £1.3bn category moves outdoors
• Insurance for Braces Helps Make Treatment More Manageable for Pennsylvania Families
• Black Ribbon Productions Launches With Fearless 2026 Horror Slate

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

• Actor Dominic Pace Returns to Television and Film
• Opteamix welcomes Girish Ramachandra to its leadership team as Senior Vice President of Client Services
• Silicon Box Ships 500M Units at High Yield, Expands Production Capacity for Panel-Level Packaging
• Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Board of Directors
• Why Baton Rouge's Humid Climate Can Contribute to Carpenter Ant Damage — J&J Exterminating Explains How to Protect Your Home

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