The STARgraft vascular graft from Healionics acts as an artificial blood vessel for dialysis patients. (Healionics Photo)
New financing: Seattle-based medical device company Healionics raised a $ 4.7 million round in a round led by Keiretsu Capital to help commercialize its STARgraft artificial blood vessel for patients undergoing dialysis treatment.
Patients with kidney failure may be dialyzed several times a week to filter waste from the bloodstream. When administering treatment, doctors often use a vascular graft to maintain access to the bloodstream. However, current grafts often fail due to blockages, also known as vascular occlusions. STARgraft aims to offer high resistance to occlusion.
“We plan to commercialize STARgraft early next year,” said Mike Connolly, CEO of Healionics, in a statement. “This novel synthetic blood vessel, based on our proprietary STAR biomaterial technology, can improve the lives of dialysis patients by reducing the frequency and severity of infections and the frequency of procedures required to maintain dialysis access.”
The money will be used to complete a second human study and obtain FDA approval. Healionics also announced that it had converted $ 5.2 million in outstanding debt and interest into equity.