Vascudyne Inc., a Stillwater startup that's developing a new replacement for heart valves and veins, has raised $10 million in a Series A round of fundraising.
The biotech company uses biological tissue to repair or replace soft tissue, touting its use of regenerative materials that were previously unavailable in rigid, synthetic devices.
“Closing the Series A finance round is a very exciting milestone for Vascudyne,” said CEO Kem Schankerel. “We are gaining momentum and paving the way to being able to supply our True Tissue regenerative material technology to patients in need."
Schankerel said the funds will support the growing organization as it continues clinical trials, expands operations and moves from pre-clinical to clinical trials.
Since spinning out of the University of Minnesota in 2017, Vascudyne has vertically integrated its manufacturing process and launched its first human clinical trial.
In July, the company announced the first successful human use of its True Graft for hemodialysis access in end-stage renal disease patients.
