One of our recent graduates, InterVene, is making great strides, having recently been approved and funded to do early feasibility clinical trials in New Zealand. The team, led by founder and CEO Fletcher Wilson, left right before Labor Day Weekend.
InterVene has enjoyed several accomplishments in the past several months: securing nearly $8 million in Series A funding, which underscores the significance of their new medical technologies; adding new team members; and moving to its new headquarters in South San Francisco this month.
The startup is creating a novel, minimally invasive device for the treatment of venous disease in the legs. The clinical trials will be the first catheter-based therapy to correct the underlying cause of chronic venous insufficiency (CVI). This condition is caused by improper function of the veins in the legs, which leads to blood pooling in the lower extremes, causing skin changes and painful ulcerations. CVI is not uncommon — it afflicts up to 24 percent of adults and costs the U.S. healthcare system nearly $2 billion annually.
The clinical trials are aimed at demonstrating functionality and safety. To date, CVI treatment for patients with deep vein reflux is limited to compression stockings and wound care, or in rare cases, invasive surgery.
“This is exciting news for Fletcher, his team and the millions of patients who will benefit from the technology,” said Fogarty Institute President and CEO Ann Fyfe. “Here at the Institute, we judge our success based on the quality of the company we help create; the legitimacy of the medical device, as proven by its ability to secure funding; the number of patients who will potentially benefit; and the probability of the innovator to make a long-term impact on healthcare. We couldn’t be more proud of InterVene and feel confident in its potential for success.”