TLDR:
- Shape Memory Medical, a developer of custom shape memory polymers for endovascular markets, completed a $38M Series C financing.
- The funding will be used to accelerate clinical and market development, support research and development of product pipeline, and expand sales and marketing strategies.
Shape Memory Medical Inc., a Santa Clara, Calif.-based company, closed a $38 million Series C financing round led by Earlybird Venture Capital. Other investors included HBM Healthcare Investments (Cayman) Ltd., WexMed II LLC, HBM-Medfocus LLC, and Emergent Medical Partners II, L.P. The funding will be used to accelerate the clinical and market development of shape memory polymer technology for aortic and peripheral vascular markets. The company also plans to support the AAA-SHAPE Pivotal Trial, research and development of their product pipeline, and the expansion of sales and marketing strategies. Shape Memory Medical is focused on developing innovative therapeutic solutions with its proprietary shape memory polymers, with devices approved in over 25 countries across the world. Their neurovascular embolization products include the TrelliX® Embolic Coil, while peripheral embolization products include the IMPEDE® and IMPEDE-FX Embolization Plugs and IMPEDE-FX RapidFill® Device. In countries recognizing CE marking, these products are indicated to obstruct or reduce blood flow in the peripheral vasculature.
