Okami Medical Announces Closing Of $32.5M Financing

Rhea-AI Summary

Okami Medical has successfully closed a $32.5M financing round led by new investor Vensana Capital and supported by existing investors. The funds will be used to accelerate the development and commercialization of Okami's innovative catheter-based technologies for peripheral vascular occlusion. The company has already developed two key products: the LOBO® Vascular Occlusion System and the SENDERO® Microcatheter.

The LOBO system is designed as a single-device solution for occluding a wide range of peripheral arterial targets, while the SENDERO Microcatheter is optimized for smooth delivery of interventional devices through tortuous peripheral vessels. Both products aim to address shortcomings in traditional vascular occlusion methods, offering more efficient and effective treatment options for various vascular conditions.

Positive

• Secured $32.5M in financing to accelerate product development and commercialization
• Developed innovative LOBO® Vascular Occlusion System for efficient peripheral arterial occlusion
• Created SENDERO® Microcatheter, which is FDA 510(k) cleared for optimal device delivery
• Backed by experienced investors and industry veterans
• Addressing shortcomings in traditional vascular occlusion methods

Negative

• None.

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ALISO VIEJO, Calif., Oct. 21, 2024 /PRNewswire/ -- Okami Medical today announced the closing of a $32.5M financing led by new investor Vensana Capital and joined by existing investors including U.S. Venture Partners, members of Okami's board of directors, and other medical device industry veterans. Okami was launched by medical device incubator Inceptus Medical, whose principals previously founded other category-defining vascular companies including Inari Medical, Sequent Medical, and MicroVention.

The financing provides Okami with capital to accelerate development and commercialization of its innovative catheter-based technologies for peripheral vascular occlusion. To-date, Okami has developed the LOBO^® Vascular Occlusion System and the SENDERO^® Microcatheter. The LOBO Vascular Occlusion System is uniquely designed to provide interventional physicians with a single-device, one-and-done solution for the occlusion of a wide range of peripheral arterial targets without the need for multiple embolic devices. The SENDERO Microcatheter is designed for smooth delivery of interventional devices, while providing optimal trackability through tortuous peripheral vessels.

"We are honored to have the support of Vensana and our existing investors to advance these important technologies and deliver them to patients," said Rhonda Robb, President and CEO of Okami. "We are also grateful for the support and contributions of our employees and physician partners as we work tirelessly to build the market leader in vascular occlusion."

"LOBO and SENDERO address many of the shortcomings of traditional coils and vascular plugs. Designed for predictable, rapid, and durable occlusion, the platform represents a meaningful step forward in the treatment of vascular disease," commented Mike Kramer and Kirk Nielsen of Vensana Capital.   "We are excited to work alongside the Okami team to bring these and other important technologies to patients and to partner with longtime colleagues and co-investors to build another market-leading vascular company."

The LOBO (LOw-profile Braided Occluder) system enables treatment of vessel ranges from 1.5mm to 9.0mm with just four sizes and combines a patented design with proprietary HDBRAID^® technology to create a highly occlusive pore structure that substantially reduces blood flow and accelerates vessel closure. The advanced technology platform enables the fast and efficient closure of blood vessels throughout the body for the successful treatment of a diverse set of conditions.

The SENDERO Microcatheter is 510(k) cleared by the U.S. FDA and is purpose-built and optimized for the delivery of LOBO-3 and LOBO-5. Its design incorporates a hydrophilic coating, stainless steel braid, and radiopaque marker band to optimize trackability and enable precise placement of interventional devices, while a lubricious PTFE inner liner allows for low-friction delivery of interventional devices.

About Okami Medical
Okami Medical, Inc. is a privately held medical device company with a mission to address the evolving needs of patients and physicians through the development of innovative, versatile, and intuitive devices for the occlusion of peripheral vessels. The company was created in 2017 by Inceptus Medical, a medical device incubator. The Inceptus team has a track record of creating innovative and successful companies including Inari Medical (NASDAQ: NARI), Sequent Medical (acquired by Terumo in 2016) and MicroVention (acquired by Terumo in 2006). Okami is backed by members of the board of directors, Vensana Capital, U.S. Venture Partners (USVP), and medical device industry veterans. For more information, please visit www.okamimedical.com.

About Vensana Capital
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana manages $550M in capital and is actively investing in development and commercial stage companies across the medtech sector, including medical devices, diagnostics and data science, digital health, life science tools, and tech-enabled services. Vensana's investment team has a history of successfully partnering with management teams behind industry-leading companies including Artelon, Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Relievant Medsystems, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, Vertiflex, and Vesper Medical.

About U.S. Venture Partners
U.S. Venture Partners (USVP) is a leading Silicon Valley venture capital firm, partnering with entrepreneurs to transform their ideas into world-changing companies. USVP has invested in over 500 companies spanning four decades, including: Box, Cato Networks, Edgewise, Epsagon, Happy Returns, HotelTonight, Human Interest, Imperva, Inari Medical, Inspire Medical Systems, Intersect ENT, Kenna, Medigate, MeetMe, Omada Health, Pluto TV, Primary, Smartling, Supplyframe, Standard Bariatrics, ThreatMetrix, Trunk Club, Trusteer and Yammer. USVP focuses on early-stage start-ups that transform cybersecurity, enterprise software, consumer and healthcare. The USVP team consists of former entrepreneurs, technologists, corporate executives, and financial professionals who assist with strategy, scaling, team building, product development, and business development. USVP is based in Menlo Park, California.

Source:
Okami Medical, Inc.
949-446-9710
info@okamimedical.com

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SOURCE Okami Medical Inc.

FAQ

What is the purpose of Okami Medical's recent $32.5M financing round?

The $32.5M financing round will be used to accelerate the development and commercialization of Okami Medical's innovative catheter-based technologies for peripheral vascular occlusion.

Who led Okami Medical's recent financing round?

The financing round was led by new investor Vensana Capital and joined by existing investors including U.S. Venture Partners, members of Okami's board of directors, and other medical device industry veterans.

What are the main products developed by Okami Medical?

Okami Medical has developed two main products: the LOBO® Vascular Occlusion System and the SENDERO® Microcatheter.

What is the LOBO® Vascular Occlusion System designed for?

The LOBO® Vascular Occlusion System is designed to provide interventional physicians with a single-device solution for occluding a wide range of peripheral arterial targets without the need for multiple embolic devices.