Healthcare Industry News: HSMN NewsFeed
News Release - February 8, 2023
Ostial Corp Closes $7.5M Series C FinancingProceeds to accelerate commercialization and pipeline expansion of novel FLASH™ Aorto-Ostial Angioplasty System
CAMPBELL, Calif., Feb. 8, 2023 -- (Healthcare Sales & Marketing Network) -- Ostial Corporation (Ostial), a private medical technology company focused on addressing the clinical challenges of aorto-ostial interventions, today announced the raise of $7.5M in growth funding led by Delos Capital with participation from AMED Ventures and other existing investors.
"With support from Delos Capital and AMED Ventures, Ostial is on an exciting trajectory to further commercialize the FLASH System, build out its sales and operation teams, accelerate the product into new and existing accounts, and advance our current FLASH technology," stated Jon Bohane, General Manager and Chief Operating Officer of Ostial.
Ostial, an Incept LLC portfolio company, intends to use the funds to accelerate commercialization of its FLASH™ Aorto-Ostial Angioplasty System (FLASH System) by doubling its sales force, executing national programs and expanding its clinical research and scientific advisory of its dual balloon-based system. Additionally, the company plans to commence development of the next-generation FLASH System.
"Our vision is to arm physicians with advanced innovation that uniquely addresses treatment of high-risk areas in coronary and peripheral cases," stated Henry Chen, Managing Partner of Delos Capital. "Ostial is uniquely posed to seek partnerships with other innovative, synergistic technologies that will expand its cardiovascular platform beyond FLASH."
The FLASH System is the first and only dual balloon dual-balloon angioplasty catheter designed to overcome challenges of aorto-ostial stenting by delivering complete, 360° stent apposition at the ostium. Total stent apposition with FLASH optimizes patient outcomes while improving reaccess for future interventions.1
"Aorto-ostial stenting represents a growing worldwide 'neck to waist' market opportunity," stated Michael Lankford, Vice President of Sales and Business Development at Ostial. "With this new influx of capital, our field team will have the opportunity to cast a wider net and make the FLASH System available to more physicians seeking to confidently treat challenging aorto-ostial lesions."
The FLASH System is commercially available in the United States and currently sold in 350 hospitals with 19,000 commercial units sold to date.
About Ostial Corporation
Ostial Corporation (Ostial), headquartered in Campbell, California, is a private medical technology company focused on addressing the clinical challenges of aorto-ostial interventions. The company's first product, the FLASH Aorto-Ostial Angioplasty System, allows physicians to confidently treat ostial cases with true, 360° lesion coverage that enables streamlined vessel reaccess and optimal patient outcomes. For more information, visit www.ostialcorp.com.
1Data on file at Ostial Corporation.
Source: Ostial Corp
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