Financing led by Marshall Wace

November 04, 2024 02:20 PM Eastern Standard Time

MENLO PARK, Calif.–(BUSINESS WIRE)–Inquis Medical, a pioneering medical technology company specializing in advanced thrombectomy systems, today announced the successful closure of its $40 million Series B financing round. This oversubscribed round was led by Marshall Wace, a globally recognized investment firm, with strong participation from existing investors, including ShangBay Capital, Yu Star, EnPointe Ventures, and Pierre Lamond. The funding positions Inquis Medical for significant growth and development as it advances its cutting-edge technologies and prepares for commercialization.

“This substantial investment from Marshall Wace, along with our existing investors, underscores a strong belief in both our technology and our team”Post this

Inquis Medical is a clinical-stage medical device company dedicated to bringing next-generation thrombectomy systems to market. Its flagship product, the Aventus Precision Thrombectomy System™, features proprietary tissue-sensing technology that provides operators with real-time information on the tissue composition in contact with the device. This innovative system offers enhanced precision and control during procedures, pushing the boundaries of what current thrombectomy systems can achieve.

Earlier this year, Inquis received FDA 510(k) clearance for its Aventus Thrombectomy System™, as well as its blood return system for peripheral indications, and is nearing completion of enrollment in an FDA Investigational Device Exemption (IDE) pivotal clinical study targeting pulmonary embolism (PE) patients.

“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,” said Vahid Saadat, Co-CEO and Co-Founder of Inquis Medical.

“This substantial investment from Marshall Wace, along with our existing investors, underscores a strong belief in both our technology and our team,” said Mojgan Saadat, Co-CEO and Co-Founder. “We are excited for the next phase of the company and look forward to enhancing patient care by empowering physicians with our unique technology.”

In connection with the Series B financing, Andrew D. Goldberg, MD, a portfolio manager at Marshall Wace, has joined Inquis Medical’s Board of Directors.

This capital injection represents a significant milestone in Inquis Medical’s rapid development and will enable the company to complete its pivotal IDE trial, prepare for the commercial launch of the Aventus Thrombectomy System in 2025, and continue to advance its proprietary tissue-sensing platform.

In the U.S., up to 900,000 individuals are affected by venous thromboembolism (VTE) each year, with over 50% of deep vein thrombosis cases leading to pulmonary embolism (PE), which is the third leading cause of cardiovascular death. Current lytic-free aspiration thrombectomy procedures are often limited by significant blood loss and procedural inefficiencies, making Inquis Medical’s innovations a promising advancement in the field.

The widespread support from diverse investors highlights the recognition of Inquis Medical’s innovative contributions and its promising future in the medical device industry. Inquis Medical extends its sincere gratitude to Marshall Wace and all the investors for their commitment, which will allow the company to advance its mission of improving patient outcomes through groundbreaking medical technologies.

About Inquis Medical

Inquis Medical is a clinical-stage medical device company focused on peripheral vascular innovations. The company is developing next generation thrombectomy technology that offers physicians improved control and precision, enhances procedural efficiency, and minimizes blood loss. Founded in 2020, Inquis Medical is led by a seasoned executive team with over three decades of combined experience in developing, launching, and supporting novel medical devices that address unmet clinical needs and deliver lasting impact. For more information, visit our website www.inquismedical.com or follow us on LinkedIn.

Contacts

COMPANY CONTACT
info@inquismedical.com
(888) 526-7738

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