Instylla, a US-based developer of blood-flow control technology, has raised $25.4m in a series B round that included Ascension Ventures, a strategic healthcare fund backed by 13 healthcare providers including Ascension Health.
Excelestar Ventures, Catalyst Health Ventures, Amed Ventures, Sparta Group and Incept also participated in the round. It followed $8.1m in a 2017 round featuring Tara Butler, managing director at Ascension Ventures as lead investor, as well as Incept and Sparta Group.
Founded by medical technology accelerator and venture capital firm Incept in 2017, Instylla’s product is Hydrogel Embolic System, a water-based liquid that is injected into blood vessels through standard catheters to fill them and ensure blood flow is kept steady.
The capital will fund prospective clinical trials for Hydrogel Embolic System, including a pivotal trial in the United States. Tasneem Dohadwala from Excelestar Ventures and Darshana Zaveri from Catalyst Health Ventures are joining the company’s board of directors.
