Intressa Vascular secures EUR 13 million in financing to support the development of its innovative multilayer Allay® Aortic Stent for the treatment of aortic dissection
Press Release – 17/10/2023
Intressa Vascular is using its proprietary multilayer stent braiding technology to develop an innovative stent for aortic dissection, a life-threatening cardiovascular condition affecting worldwide 300,000 patients annually. The company has secured EUR 13 million in financing with the continued support of both existing and new investors and received an additional support from the Walloon Region. Funds are aimed at clinical studies and product registration purposes.
Gembloux, Belgium, October 17, 2023 – Intressa Vascular SA, a clinical-stage MedTech company, today announces the successful raising of 13 million euros in financing to support the development of its innovative multilayer stent device, the Allay® Aortic Stent, in the treatment of aortic dissection. The EUR 10 million equity round has been completed by existing investors Noshaq, Yonjin Capital, the White Fund, WE Life Sciences, CPH Bank, and a series of historical investors, who are joined by AMERIGO, the Walloon investment fund supporting new business opportunities to foster growth. A complementary EUR 3 million in non-dilutive funding is provided by the Walloon Region (DGO6) to support the evaluation of adjacent indications of the multilayer stent technology platform in aortic dissection.
Aortic dissection is a life-threatening cardiovascular condition with poor clinical outcome. Current treatment options are suboptimal, requiring complex procedures and associated with a high rate of complications, including paraplegia and high mortality.
Intressa Vascular uses its proprietary technology platform to develop and manufacture multilayer stents for various cardiovascular applications. The company’s lead product, the Allay® Aortic Stent, has been evaluated for the endovascular treatment of aortic dissection, with first long-term results presented at Charing Cross International Symposium, London, in April 2023 and a landmark publication being prepared.
“Since our last round of financing, we have gathered substantial data highlighting the potential of the Allay® Aortic Stent in the treatment of aortic dissection. This compelling evidence has generated commitment and support from investors. Despite the challenging financing context, we are happy to secure this new financing that provides the team the necessary means to continue delivering on our plan in aortic dissection”, adds Philippe Felten, chairman of the board.
“Patients with aortic dissection deserve more treatment options, tailored to their specific needs; bringing such options to the patients and physicians is the daily commitment of everyone at Intressa Vascular. With this new financing, we will be able to advance the company’s clinical development and product registration activities, primarily in Europe, and further anchor and develop the organization locally to deliver on an addressable market segment worth more than EUR 2 billion. We thank our investors and Amerigo for their support”, says Pierre Douette, Intressa Vascular’s CEO.
About Intressa Vascular
Intressa Vascular (www.intressavascular.com), located in Gembloux, Belgium, is providing innovative solutions to address life-threatening cardiovascular conditions such as aortic dissection. Intressa Vascular has developed a proprietary braiding technology platform allowing to produce multilayer stent. Its Allay® Aortic Stent is the only treatment for Type B aortic dissections (TBAD) and residual dissections designed to reopen the true lumen along the dissected aorta while preserving branch perfusion, via a streamlined procedure with a low risk of complications.
About Noshaq
Noshaq is an investment fund with a portfolio of more than 450 companies, many of them being high-potential SMEs in technological sectors. Over the years, Noshaq has developed a variety of financing vehicles, especially in the life science field. Noshaq is committed to developing sectorial expertise and structuring ecosystems that give companies the favorable conditions they need to better respond to the new challenges of today and tomorrow.
About Yonjin Capital
Yonjin is a specialized investment company under Yonjin Group, focusing on Private Equity investment and Fund management. The VC team at Yonjin is a market leader in Chinese venture capital, with technical expertise in TMT (technology, media, telecom), medical and healthcare as well as the new material development sectors. In addition, the vast experience with internal operation and investment management allows for remarkable investment performance and client trust.
About White Fund
White Fund is an early-stage private equity fund entirely dedicated to the medical device sector. The targets are promising ‘early-stage’ companies, with at least a proof of concept of their technology and objective market traction indicators. White Fund aims to support the pre-commercialization stages of projects and the start of sales, with an exit target of five to seven years. The geographical scope of the investment is Belgium, without excluding the possibility of opportunities in neighboring areas.
About WE Life Sciences
WE Life Sciences invests in Wallonia’s “Local Heroes” – researchers and entrepreneurs leveraging innovation to foster a sustainable and equitable global economy. Emphasizing diversity and cross-fertilization, they support a wide range of health sector companies at various developmental stages and driven by a long-term vision. As a pioneer, premature, and patient investor, WE Life Sciences encourages entrepreneurs to explore new areas, strengthening Wallonia’s economic health.
About CPH Bank
Established in 1930, CPH Bank (www.cph.be) is a Belgian regional cooperative bank. With around 30 agencies and 220 employees, CPH Bank provides a range of payment, savings and loans products and services to individuals and SMEs in Hainaut, Namurois and Walloon Brabant. Last private bank in the French-speaking part of Belgium, Banque CPH has a sound financial position. In the last years, the bank has developed a limited activity of private equity in innovative companies.
About Amerigo
Initiated in the wake of the economic support measures taken since the start of the pandemic and contributing to the objectives of the Wallonia Recovery Plan, AMERIGO deploys funds to support the recovery and growth of Walloon businesses.
About DGO6
The Operational Directorate-General for Economy, Employment and Research (DGO6), belonging to the Walloon Public Service (https://recherche.wallonie.be/), is the legal administration in charge of funding applied research for new technologies and energy for industries, academia and research centers, as well as of related international scientific co-operation. It is the key advisory body for the Regional government authorities involving research and innovation policy.
For further information, please contact
Pierre Douette, CEO
Intressa Vascular
