• Averto Medical

  Participated · Equity · Nov 2023

  Averto Medical is a clinical-stage medical device company developing the ColoSeal™ intraluminal colonic diversion system to transform gastrointestinal care. Its first product, ColoSeal, enables procedures such as colorectal cancer resection without creating an invasive temporary diverting stoma. Early clinical data have shown promising results addressing a multi-billion dollar market opportunity. The company is led by CEO and founder Kenton Fong and is based in San Francisco. Averto, formerly known as Savage Medical, plans to use the newly raised funds to support growth of clinical testing of ColoSeal toward regulatory approvals. In connection with the financing, Ken Song, MD was named Executive Chairman and Dan Puckett and Bihua Chen joined the board of directors. Savage Medical is a San Francisco, CA–based clinical-stage medical technology company led by CEO Kenton Fong, M.D. The company is advancing the ColoSeal System™, which enables minimally invasive colorectal tumor removal and aims to eliminate the need for two open surgeries in today’s standard of care. Savage Medical intends to use its recent funding to support the ongoing clinical trial of the ColoSeal System. The company has been selected as a UCSF Rosenman Innovator company and a MedTech Innovator company. It has also been the recipient of U.S. National Cancer Institute (NCI) and U.S. National Science Foundation (NSF) Small Business Innovation Research (SBIR) grants. Financially, Savage Medical has raised over $3M in total funding.

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