Instylla Announces Completion of $30MM EQUITY Financing

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Aug 15, 2023, 07:02 ET

Secured financing advances Instylla's clinical trials and commercialization readiness

BEDFORD, Mass., Aug. 15, 2023 /PRNewswire/ -- Instylla, Inc., a privately held company developing next-generation liquid embolics for peripheral vascular embolotherapy, today announced the closing of a $30 million financing round. This financing round was led by new investor, Delos Capital, with continued participation from the investor syndicate of Excelestar Ventures, Ascension Ventures, Catalyst Health Ventures, Amed Ventures, Sparta Group, and Incept, LLC. The funds from this financing are anticipated to see Instylla through the ongoing prospective clinical trials and early commercialization.

"At Instylla, we are executing two large pivotal clinical trials in North America in pursuit of our two initial indications for the embolization of hypervascular tumors and peripheral arterial bleeds. The funds will allow us to complete the clinical trials and prepare for the commercialization of Embrace HES. We are excited to have Delos Capital join our strong group of healthcare investors who share our values," said Amar Sawhney, CEO of Instylla, Inc. and Managing Director of Incept, LLC.

The Instylla HES Hypervascular Tumor Pivotal Study is currently enrolling patients in the US and Canada to evaluate the safety and effectiveness of the Instylla Hydrogel Embolic System (HES) compared with standard of care transcatheter arterial embolization or transcatheter arterial chemoembolization for the vascular occlusion of hypervascular tumors. The "HALT" Study was recently launched in the US and is continuing to enroll patients to study the safety and effectiveness of Embrace HES for the embolization of arterial bleeding in solid organs and peripheral arteries.

As part of this round of financing, Henry Chen, Managing Partner, Delos Capital has joined the Instylla Board of Directors. "Instylla has demonstrated impressive progress, having already advanced its next-generation liquid embolic technology to human clinical studies. We are honored and thrilled to support Instylla as it continues developing breakthrough solutions that will meaningfully improve patient outcomes," said Henry Chen.

About Embrace Hydrogel Embolic System:
Embrace HES is an investigational device intended to be used to embolize hypervascular tumors in vessels ≤ 5 mm or peripheral arterial bleeds in vessels ≤ 6 mm. Embrace HES consists of two injectable liquid precursors that solidify when simultaneously delivered into blood vessels, forming a soft hydrogel that fills the vessel lumens during embolization. The Embrace HES embolization uses no organic solvents, does not need sizing to the vessel diameter, and eliminates the possibility of catheter entrapment. Its main components are water and polyethylene glycol (PEG).

About Instylla:
Instylla, Inc. is a privately held company based in Bedford, MA, focused on developing next-generation liquid embolics for interventional radiology, with initial clinical applications in interventional oncology and peripheral hemostasis. The company's first product, Embrace HES, is designed for controlled, complete, and persistent embolization in these clinical conditions. Instylla was founded in 2017 by Incept LLC and is funded by several leading venture capital groups.

To learn more, please visit https://www.instylla.com/

SOURCE Instylla, Inc.