Endovascular Engineering Secures $15 Million Series A1 Financing for Venous Thrombectomy Solutions
April 6, 2022
MENLO PARK, Calif., April 5, 2022 /PRNewswire/ — Endovascular Engineering (“E2”), a privately-held developer of next-generation thrombectomy devices to treat patients with Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE), today announced the closing of a $15 million Series A1 financing. The financing was co-led by Santé Ventures and Cordis, who were joined by another strategic investor. E2 plans to use the proceeds to advance its thrombectomy platform through initial clinical evaluation.
DVT occurs when a blood clot forms in the deep veins, usually in the pelvis or leg. DVT can be fatal if a blood clot breaks free and travels through the heart and lodges in the lung arteries causing PE, the third most common cause of cardiovascular death after coronary artery disease and stroke.
The E2 thrombectomy system was invented by Dr. Luis Savastano and developed in partnership with Inventure Group LLC, a Menlo Park based medical device incubator focused on developing next generation medical devices to meet the needs of patients and the physicians that treat them.
Founder and CSO Dr. Luis Savastano said, “With the close of this funding we will continue the journey from concept to clinical use. We are confident our vision of single-pass peripheral thrombectomy procedures will be realized with the introduction of E2’s thrombectomy solution.”
CEO Mike Rosenthal said, “The E2 team is thrilled to welcome our new investment partners to further the pursuit of healthcare solutions that matter. We share a pioneering spirit dedicated to serving patients and physicians in the underserved peripheral indications.”
“There is a large, unmet medical need for an efficient and easy to use thrombectomy solution in the peripheral space,” said Dr. James Eadie, Managing Director at Santé Ventures and E2 board member. “E2’s platform technology is elegant, procedurally focused, and backed by a strong team of medical device entrepreneurs and engineers.”
Endovascular Engineering (“E2”), based in Menlo Park, California, is a preclinical stage company developing mechanical thrombectomy solutions to address peripheral indications. The company was founded in 2019 by Dr. Luis Savastano, and the platform technology was advanced through his partnership with Santé Ventures and Inventure Group.
ABOUT SANTÉ VENTURES
Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with nearly $1BN in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services. Recent Santé successes include Farapulse (Boston Scientific), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX, and Boston, MA. For more information, please visit www.sante.com.
Cordis is a worldwide leader in the development and manufacturing of interventional cardiovascular technologies with a more than 60-year history of pioneering breakthrough therapies to treat millions of patients. With a reputation for clinical acumen, training, and service, Cordis has a legacy of innovation in high-quality and minimally invasive cardiovascular products, building a strong global footprint with operations in more than 70 countries around the world.