VESTECK, Inc. Closes $5.95 M Series A Preferred equity round

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Jan 04, 2022, 16:14 ET

WEST CHESTER, Pa., Jan. 4, 2022 /PRNewswire/ -- VESTECK, Inc. is pleased to announce the final closing of their $5.95M Series A financing, which includes conversion of all existing convertible notes.

The A round was led by Florida based New World Angels (https://www.newworldangels.com/), followed by DeepWork Capital (https://www.deepworkcapital.com/) and Ocean Azul Partners (https://oceanazulpartners.com/).

VESTECK received significant support from Philadelphia area investors Ben Franklin Technology Partners (https://benfranklin.org), BioAdvance (https://www.bioadvance.com/), Robinhood Ventures (https://www.robinhoodventures.com/) and Angel Star Ventures (https://angelstarventures.com/).

VESTECK CEO, Joe Rafferty stated "this was targeted as a $3.5M Series A preferred equity round, to bring in over $5.9M, is a powerful endorsement of the VESTECK team and technology!"

These Series A funds will be used to support the manufacturing of products, pre-clinical testing and completion of in human procedures, prior to our clinical study for FDA clearance.

VESTECK has designed a platform technology comprised of 6 devices that integrate the delivery of nitinol sutures into a catheter, improving clinical outcomes for endovascular aortic aneurysm patients.

Dr. David H. Deaton, Chief Medical Officer, says, "Suture-Tight will become the standard of care in aortic aneurysm repair."

Vesteck expects to bring significant incremental revenue to an aortic repair market projected to be over $4.5B by 2028.

About Vesteck Inc.:

VESTECK, Inc. (www.VESTECK.com) is an early-stage medical device company focused on bringing their proprietary technology to the aortic repair, structural heart and GI markets. Their first product, the "Suture-Tight" nitinol suture delivery catheter will bring a novel technology to endovascular aortic repair market solving a significant global challenge for physicians and patients.

VESTECK was represented by Kevin M. Granahan of Fox Rothschild LLP

MEDIA CONTACTS: VESTECK, Inc. CEO, Joe Rafferty, [email protected] 610-457-7324

SOURCE VESTECK, Inc.