Subject: FNC
Inari Medical Announces Completion of $27 Million Series C Financing
IRVINE, Calif., March 29, 2018 /PRNewswire/ -- Inari Medical, Inc., announced today the close of a Series C financing totaling $27.0 million. The financing was led by new investor Gilde Healthcare and was joined by all of Inari's existing investors including Versant Ventures and U.S. Venture Partners. Geoff Pardo of Gilde Healthcare will join Inari's Board of Directors.
The financing provides Inari with capital to commercialize its innovative catheter-based technologies for the treatment of venous thromboembolism ("VTE"), a leading cause of death and disability worldwide affecting over 10 million patients annually1. To date, Inari has developed the FlowTriever and ClotTriever Systems, both of which are designed to enable the safe removal of large clot volumes from big vessels without the use of thrombolytic drugs.
"We are fortunate to have the support of a strong consortium of life sciences venture capital firms and would like to welcome both Gilde Healthcare as an investor in Inari and Geoff Pardo as a Board member," said Bill Hoffman, President and Chief Executive Officer. "We will use these funds to support and accelerate our commercial, clinical and technology development programs."
"There is a significant need to improve outcomes for the millions of patients suffering from VTE," added Geoff Pardo of Gilde Healthcare. "We have been impressed by the Inari team, the progress they've made to date and their vision to transform the treatment of VTE."
About Inari Medical, Inc.
Inari Medical, Inc. is a privately held venture backed medical device company dedicated to the development of innovative catheter-based technologies for the treatment of venous thromboembolism ("VTE"). Inari is focused on solutions that enable the safe removal of large clot volumes from big vessels without the use of thrombolytic drugs. Inari has developed two novel mechanical thrombectomy technology platforms, the FlowTriever and ClotTriever Systems. Both Systems are 510(k) cleared by the U.S. FDA for thrombectomy in the peripheral vessels and have also received the CE mark. Inari was founded in 2013 as a spin-out of Inceptus Medical, a medical device incubator. The company is backed by Gilde Healthcare, Versant Ventures, U.S. Venture Partners, the founders, and other private investors. For more information, please visit www.inarimedical.com.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing two business lines: a venture & growth capital fund and a lower mid-market buy-out fund. Gilde Healthcare's venture & growth capital fund invests in medtech, diagnostics, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare's lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Netherlands, Belgium and Germany. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. Since 2001 Gilde Healthcare has raised EUR 800 million (USD 1 billion) for its specialized funds. Gilde is currently investing out of Gilde Healthcare IV which is financed, in part, by the European Recovery Program-European Investment Fund Facility. For more information, visit the company's website at www.gildehealthcare.com.
1. http://www.worldthrombosisday.org
SOURCE Inari Medical, Inc.
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