Nfocus Neuromedical, a Menlo Park, CA, designer of aneurysm and fistula treatment devices, announced on Tuesday a $20.3 million Series B private equity financing. Nfocus is a newly created company that resulted from a merger, also announced on Tuesday, between CardioVasc and Acta Vascular Systems. “The acquisition of Acta Vascular will provide Nfocus with a broader presence and an immediate impact in the area of neurovascular diseases and hemorrhagic stroke,” said CardioVasc’s founder, Mir Imran. A self-proclaimed “serial medical device entrepreneur,” Imran also is the founder of InCube Laboratories, a medical device incubator that develops companies.
Nfocus will specialize in endovascular treatment devices that provide “faster, simpler and more permanent treatment of hemorrhagic stroke,” according to a company statement. Such devices provide interventional neuroradiologists and neurosurgeons with additional options when treating patients who may have inoperable conditions.
The Series B financing came from Boston-based Oxford Bioscience Partners and Palo Alto, CA-based Technology Partners, together with existing investor ePlanet Ventures. The funds will enable Nfocus to immediately begin marketing its aneurysm and fistula treatment devices in the U.S. and Europe.