Inquis Medical, a leading medical technology company specializing in advanced thrombectomy systems, has successfully closed a $40 million Series B financing round. The funding, which was oversubscribed, was led by the global investment firm Marshall Wace and saw significant participation from existing investors, including ShangBay Capital, Yu Star, EnPointe Ventures, and Pierre Lamond. This investment positions Inquis Medical for substantial growth as it works to advance its cutting-edge technologies and prepare for commercialization.

The Need for Advanced Thrombectomy Solutions

Inquis Medical is dedicated to addressing critical needs in vascular health through innovative medical devices. Its flagship product, the Aventus Precision Thrombectomy System™, incorporates proprietary tissue-sensing technology that delivers real-time information about tissue composition during thrombectomy procedures. This advancement is designed to enhance precision and control, which can significantly improve patient outcomes compared to current thrombectomy solutions.

According to Vahid Saadat, Co-CEO and Co-Founder of Inquis Medical, the successful funding round is a testament to the confidence investors have in the company's mission and innovations. "We are thrilled to have successfully secured our Series B funding. This is a strong validation of the confidence investors have in our mission and the potential impact of our innovations," he stated.

Significant Milestones and FDA Approvals

Earlier this year, Inquis Medical achieved notable milestones, including receiving FDA 510(k) clearance for both the Aventus Thrombectomy System™ and its blood return system for peripheral indications. The company is also approaching the completion of patient enrollment for its FDA Investigational Device Exemption (IDE) pivotal clinical study targeting pulmonary embolism (PE) patients. This study is crucial for evaluating the safety and effectiveness of the Aventus system in treating a condition that significantly affects patient health.

In the United States, venous thromboembolism (VTE) impacts approximately 900,000 individuals annually, with over 50% of deep vein thrombosis cases progressing to pulmonary embolism, which is among the leading causes of cardiovascular death. Traditional lytic-free aspiration thrombectomy procedures often encounter challenges such as significant blood loss and procedural inefficiencies. Inquis Medical's innovations aim to address these limitations, representing a significant advancement in thrombectomy technology.

A Bright Future Ahead

The capital raised during this Series B financing round marks a crucial milestone in Inquis Medical's rapid development, enabling the completion of its pivotal clinical trial and the preparation for the anticipated commercial launch of the Aventus Thrombectomy System in 2025. Additionally, the funding will support the continued advancement of the company's proprietary tissue-sensing platform.

In connection with this financing, Andrew D. Goldberg, MD, a portfolio manager at Marshall Wace, will join Inquis Medical’s Board of Directors. His expertise is expected to provide valuable guidance as the company navigates this critical growth phase.

Acknowledging Investor Support

The overwhelming support from a diverse array of investors underscores the recognition of Inquis Medical's innovative contributions and its promising future in the medical device industry. The company expresses its gratitude to Marshall Wace and all other investors for their commitment, which will enable it to further its mission of improving patient outcomes through groundbreaking medical technologies.

Inquis Medical's closure of the $40 million Series B financing represents a significant step forward in its journey to transform thrombectomy practices. With the Aventus Precision Thrombectomy System set for commercial launch, the company is poised to enhance patient care in the field of vascular health. Through innovative technology and a commitment to addressing unmet clinical needs, Inquis Medical aims to set a new standard for thrombectomy procedures, ultimately benefiting healthcare providers and patients alike.