Spain-based surgical technology developer Anaconda Biomed has completed a €20m ($22m) round featuring banking group Banco Sabadell’s Venture Capital unit
The round was led by Sabadell Asabys Health Innovation Investments, a fund managed by Asabys Partners in which Banco Sabadell is the anchor investor. It was filled out by life sciences-focused investment firm Omega Funds and VC firms Innogest and Ysios Capital.
Founded in 2015, Anaconda is working on a surgical device for treating ischemic stroke, where an arterial blood clot curtails circulation of blood to the brain.
The device features a funnel-shaped catheter tube, the diameter of which expands upon impact to match the blocked artery, meaning the clot can be extracted by the surgeon without causing fragmentation.
Anaconda will spend the funding on clinical studies as it prepares to submit regulatory submissions in markets including the US, and will also look to build up its manufacturing and product development capacity.
Francois Salmon, Anaconda’s CEO, said: “With this new round of funding, we will be able to advance our work in developing and testing next-generation technology that has the potential to dramatically accelerate and improve endovascular treatment of major ischemic stroke patients.
“This financial backing is further validation that the lifesaving work we are engaged in at Anaconda is absolutely vital in the quest to reduce the incidence of death and disability following a stroke.”
Banco Sabadell had previously joined Ysios Capital, Omega Funds and existing investor Innogest Capital in the company’s $16.8m series A round in mid-2017.