Deep Blue Medical Advances Closes Successful Series A1 Funding Round

SAN FRANCISCO, June 28, 2022 /PRNewswire/ -- Deep Blue Medical Advances, developer of the T-Line® Hernia Mesh, today announced the close of its Series A1 funding round. This capital will enable Deep Blue Medical to scale up its commercialization and product development efforts to meet rapidly increasing market demand for its T-Line Hernia Mesh.

More than 1.5 million abdominal hernia repairs are performed each year globally, and hernia surgeries generate billions of dollars in clinical cost. Nevertheless, there remains an unacceptably high rate of hernia repair failure. The surgeon-invented T-Line Hernia Mesh with integral suture-like extensions is designed to eliminate a key point of failure for conventional mesh fixation - the mesh, suture, tissue interface - and to provide superior anchor strength.

"The T-Line Hernia Mesh is increasingly preferred by surgeons due to its unique design, 275% greater fixation strength compared to conventional mesh-suture attachment, and superior surgical experience, such as providing optimal mesh tension", said Bill Perry, CEO of Deep Blue Medical Advances, Inc. "This investment will allow Deep Blue Medical to expand our commercial sales team to bring this novel ventral hernia mesh to more surgeons. In addition, we will continue accelerated development of several additional products, including a biosynthetic version of the T-Line Hernia mesh; a coated anti-adhesion version of the T-Line Mesh for minimally invasive surgery; and an absorbable Anchor Clip for even faster, easier implantation."

Dr. Gary Gershony, Founding General Partner of BayMed Venture Partners, which led the Series A1 financing, will join the Deep Blue Board of Directors. "We look forward to working closely with the Deep Blue leadership team to help bring their innovative and clinically needed pipeline of surgical products to market as we draw on our past experience of effectively launching important new medical devices with high growth companies" said Dr. Gershony. "We believe Deep Blue has tremendous growth opportunities and is a great example of a compelling investment where BayMed will add significant value to support achievement of key milestones," added Neil Meyer, Co-Founding General Partner of BayMed.

About Deep Blue Medical Advances
Deep Blue Medical Advances is developing a portfolio of novel hernia surgery products to address the unacceptably high rate of hernia occurrence and recurrence. Our products enhance hernia surgery with a potentially significant impact on the multi-billion-dollar global hernia device market. Due to its simple yet revolutionary design, the T-Line Hernia Mesh has the potential to reduce hernia occurrence and recurrence by preventing or reducing mesh fixation failure.

About BayMed Venture Partners
BayMed Venture Partners is a San Francisco, California based venture capital firm focused on early-stage companies in the medical device and digital health sectors. Founded by Dr. Gary Gershony, a successful serial medical device entrepreneur and internationally recognized interventional cardiologist, and Neil Meyer, a highly experienced healthcare investment professional and former medical device industry finance executive, BayMed seeks to leverage its wealth of industry experience to support growth and success of portfolio companies through collaborative partnership.  

SOURCE Deep Blue Medical Advances