Neograft Technologies, Inc. develops advanced cardiac technologies, most notably Angioshield, a device designed to provide controlled structural support for veins used in CABG procedures. The company says Angioshield is expected to dramatically improve the safety and efficacy of the more than one million venous bypass grafts used globally each year. The underlying science was developed and tested first at the University of Pittsburgh's McGowan Institute and at the company over the prior two years. Neograft was organized in 2009 and has facilities in Pittsburgh, Pennsylvania and Taunton, Massachusetts. Management announced the company closed a $5.0 million equity offering and intends to use the funds to complete preclinical testing and development. Company leadership noted strong investor interest and that the round closed within thirty days of the offering. Neograft Technologies, based in Pittsburgh, PA, develops medical devices to treat coronary artery disease. Led by CEO David Wagner, the company is developing its first product, Angioshield®, a device designed to provide controlled structural support to veins intended for use in bypass procedures as arterial vein grafts (AVGs). The system is not approved for use in the USA. It is designed to allow clinicians to achieve superior outcomes for treatment of coronary and peripheral arterial re-vascularization. According to an SEC filing, Neograft raised $3M in equity financing from five backers.

Total raised

$8M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2011