US-based vascular disease treatment developer Alucent Biomedical has completed a $35m series B round featuring kidney dialysis provider Fresenius Medical Care and healthcare provider Avera Health.
The round was led by an unnamed strategic investor and Fresenius participated through corporate venture capital subsidiary Fresenius Medical Care Ventures.
Founded by Avera Health subsidiary Avera Research Institute, Alucent has created a treatment system that combines drugs and hardware to treat peripheral artery disease (PAD) in the body’s lower extremities.
The system, dubbed AlucentNVS, uses a process known as natural vascular scaffolding, and Alucent will put the funding toward completing clinical trials of the technology. It has begun enrolling patients for the first trial, while the second is slated to take place in mid-2021.
The company received $400,000 in equity funding in 2015 according to a regulatory filing, and it said it has now secured $60m in funding altogether.
Al Wiegman, head of Fresenius Medical Care Ventures, said: “Alucent Biomedical is a welcome addition to our portfolio.
“The company’s first-rate management team is developing a revolutionary technology that has the potential to dramatically improve treatment for the millions of people who suffer from PAD. We believe AlucentNVS stands to completely reshape how physicians think about treating vascular conditions.”
