Primer Capital invests in the development of microcatheters for blood vessel procedures3 October 2017
Primer Capital invested in the development of microcatheters for minimally invasive endovascular interventions. Five investors participated in the round with the resulting transaction of USD 3.55 million.
Endovascular procedures are surgical interventions on blood vessels aimed at diagnostics, delivery of drugs and medical devices. Approximately 350 thousand procedures with microcatheters are performed annually. The tortuous nature of blood vessels makes such procedures unsafe.
Bendit Technologies Ltd. developed a unique configuration of ultra-small and flexible microcatheters that are easy to navigate even in tortuous vessel anatomies. With the use of modern materials and engineering solutions, Bendit catheters can be effectively used for navigation through small vessels. It is the world’s most steerable microcatheter that allows for in-vivo navigation to reach the target site through tortuous vascular bed with its shape accommodating acute and challenging angles.
The received investments will be used to get European and American regulatory certifications. “The world market for catheters is estimated at about 30 billion dollars in 2017. According to Global Market Insights, Inc., it can grow up to 74 billion dollars by 2024. At the same time, the number of ischemic strokes is dramatically increasing. Considering the technological development, there is a swelling demand for products that minimize the time it takes to reach the clot site. Bendit technologies provide a time- and cost-saving solution which may become the leading one in an international endovascular practice,” comments Primer Capital COO Elizaveta Rozhdestvenskaya.