Medical device company Arstasis Inc. won a $25.5 million investment from undisclosed investors in a Series E financing.
The Redwood City company said the cash, raised from both new and returning investors, would allow it to complete the launch of the Axera Access Device and continue development of products in its pipeline.
Hollow-bore access needles are used today to enter the femoral artery at the thigh during an arstaotomy procedure like an angiography, during which dye is inserted into blood vessels to discover blockages. The problem, Arstasis leaders have said, is the process leaves a gaping hole that seals only after about 20 minutes of continual pressure on the groin by a nurse as well as two to eight hours of the patient lying still. Arstasis’ device, on the other hand, diagonally penetrates the artery, allowing tissue to overlap and seal more quickly.
