Amsterdam, the Netherlands —September 8, 2016 — LSP (Life Sciences Partners), a leading European investor in health care, announces its investment in the Series C Round of Vivasure Medical, a private Irish company developing a novel bioabsorbable technology for percutaneous vessel closure. The round of EUR 16.2 million was led by LSP, investing from its LSP Health Economics Fund, and co-led by Evonik Venture Capital (Germany), alongside Panakes Partners (Italy) and returning Series A and B investors led by Fountain Healthcare Partners.
The funding will support European commercialization of the PerQseal™ technology to meet the growing demand for absorbable, percutaneous vessel closure products, as well as execution of a U.S. Food and Drug Administration (FDA) regulatory study. The Vivasure Closure Device is the first product from the company’s PerQseal™ technology platform, and is the only approved fully bioabsorbable, sutureless and entirely synthetic option to close large-bore arteriotomies that result from percutaneous transcatheter procedures, including transcatheter aortic valve replacement (TAVR) and endovascular abdominal aortic aneurysm repair (EVAR).
A link to the company's press release can be found here.
About Vivasure Medical
Based in Galway, Ireland, Vivasure Medical has developed a patented bioabsorbable implant platform technology for applications in vessel closure. Its first product from this PerQseal platform features a bioabsorbable implant and percutaneous delivery system, designed to close large arteriotomies. For more information, please visit: www.vivasuremedical.com.
About LSP
LSP (Life Sciences Partners) is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. The LSP Health Economics Fund invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: www.lspvc.com.
Contact:
Anne Portwich, PhD
Partner LSP
+31 20 6645500