news

  • 3 August 2011
    USD 23 million financing complete and corporate name changed to Vessix Vascular

    Vessix Vascular, Inc. (formerly known as Minnow Medical, Inc.), a developer of novel percutaneous radiofrequency (RF) balloon catheter technology announced today that it has completed a $23 million Series B preferred stock financing. The lead investor in the financing round was Edmond de Rothschild Investment Partners (EdRIP) of Paris, France. Also participating in the financing was NY-based OrbiMed Advisors, CDF Dinova Venture Partners of Hong Kong along with existing investors NeoMed Management and Christopher Weil & Company.

    Subsequent to the close of the transaction, Raphael Wisniewski of EdRIP and Vince Burgess of OrbiMed have been appointed to the Vessix Board of Directors. Use of proceeds from the financings will provide working capital to accelerate product development initiatives and funding for a series of multi-center clinical trials to further expand clinical indications for the Company’s patented RF balloon catheter technology. In conjunction with the financing, Vessix Vascular established a European subsidiary based in Paris with a view toward supporting its European clinical studies and anticipated commercial product launches.

    Raymond W. Cohen, Chief Executive Officer of Vessix said, “We are encouraged that this group of world class investors and strategic partners has recognized the potential of the Vessix technology and the large patient populations that could benefit from commercialization of our products. Over the next year, we intend to move into a number of new clinical applications where our technology is well suited.”

    About Vessix Vascular, Inc.

    Vessix was initially founded in 2003 as Minnow Medical, Inc. Vessix is a privately-held pre-revenue stage company developing novel radiofrequency balloon catheter technology. The Company’s initial product, the ZCath® System, has a CE Mark for use in reducing plaque in peripheral leg arteries. The Company is ISO 13485 Compliant, FDA registered and a licensed California manufacturer. For more information on Vessix Vascular, please visit the Company’s website at www.vessixvascular.com or contact Matt Clawson at Allen & Caron Inc at 949-474-4300 or via email at