Veniti is an early-stage commercialization medical device company dedicated to advancing the treatment of venous disease through clinical research and innovative technology. The company is developing the VICI VENOUS STENT System, intended for use in veins of the lower extremities and pelvis; the product is CE marked under the European Medical Devices Directive and commercially available in Europe but limited in the U.S. to investigational use. The financing will be used to further the VIRTUS Trial for the VICI system and support worldwide commercialization efforts. Veniti closed on over $17m in combined equity and senior secured debt financing. The equity portion was a Series C led by previous investors Baird Capital and Tekla Healthcare and Tekla Life Science Investors; the senior secured debt was funded by Life Sciences Alternative Funding. Founded in 2010 and led by CEO Scott Solano, Veniti is based in St. Louis, Missouri, with technical operations in Fremont, California. Veniti is a St. Louis-based medical device company focused on developing innovative solutions for the comprehensive treatment of chronic venous insufficiency, a condition affecting up to 20% of U.S. adults. Its platform includes a vapor-based endovenous ablation system, a vena cava filter anchoring technology, and a stent system designed specifically to treat complex venous disease. Initial products are expected to be available in late 2011. The company intends to use new funding to acquire Varix Medical Corporation (Sunnyvale, CA) and Teneo Medical Development (Fremont, CA) and to begin commercialization of multiple products singularly focused on treating chronic venous disease. Veniti raised $13.5M in a Series A financing to support these plans. Leadership is headed by President and CEO Sean Morris, and the financing led to planned additions to the board from the lead investors and industry partners.

Total raised

$31M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Mar 2015