Vascular Flow Technologies Closes $14.4M Financing Round
Vascular Flow Technologies has closed a $14.4 million financing round, which will support the realignment of its business strategy to focus on R&D, as well as the strategic joint development and out-licensing agreements with leading industry partners.
The equity round consisted of two concurrent transactions — a $10.1 million loan note restructuring into the Series A Ordinary Preference shares and a $4.3 million Series B capital increase. The Series B financing round was led by an undisclosed family office and supported by institutional and individual angel investors.
VFT says it will use the $14.4 million towards developing the company as a technology transfer business. The company will be refocusing on applying its proprietary Spiral Laminar Flow technology to vascular and endovascular devices, using computational fluid dynamics and finite element analysis to support this work. — Jonathon Shacat