Akura Medical, a Shifamed Portfolio Company, Closes $35M in Series B Financing

2023-10-03

Company to apply for FDA clearance, expand clinical programs for additional indications and scale manufacturing

LOS GATOS, Calif., Oct. 3, 2023 /PRNewswire/ -- Akura Medical, a Shifamed portfolio company focused on a differentiated approach to effectively address the major challenges of venous thromboembolism (VTE), announced today the closing of its $35M Series B financing. The funds will be used to apply for FDA 510(k) clearance for the Akura Mechanical Thrombectomy Platform, support clinical trials for additional indications, and scale manufacturing capabilities. The financing was led by The Capital Partnership (TCP) and Cormorant Asset Management, with significant participation from the PA MedTech VC Fund, AMED Ventures, Lilly Asia Ventures, Unorthodox Ventures and Shifamed angel investors.

"Despite the proliferation of mechanical thrombectomy devices, significant challenges remain. The low-profile Akura platform is designed to remove soft and hard clots. Additionally, the system's continuous monitoring of hemodynamics will allow physicians to assess physiologic changes when a substantial clot has been removed," said Gautam Kainth, Managing Director, The Capital Partnership. "We are pleased to lead this round and look forward to working with the Akura team to bring this much needed solution to market."

The Akura Mechanical Thrombectomy Platform is designed to be an easy-to-use, smaller bore system. The low-profile, steerable sheath allows physicians to bring the tip of the catheter directly to the proximal end of the clot without having to cross the clot. The platform's integrated aspiration and maceration technology, incorporating intersecting jets, aims to enable efficient removal of mixed morphology clots. Additionally, pressure sensors provide real-time hemodynamic data, reducing the guesswork around case progress.

"The Akura thrombectomy platform is designed to provide large-bore catheter performance with a user-friendly system that will change how physicians approach thrombus removal in a clinically meaningful way," stated Murali Srivathsa, President and Chief Executive Officer, Akura Medical. "We thank our investors for their strong, ongoing support as we continue to execute and deliver on our commitment to advance our differentiated solution for VTE."

VTE occurs when a blood clot, often formed in a deep vein in the leg, severely restricts or blocks blood flow to the lungs, which can be life-threatening. As many as 900,000 people are affected annually in the US. Estimates suggest that 60,000-100,000 Americans die of VTE per year.1

About Akura Medical, Inc.

Akura Medical, a privately held portfolio company of Shifamed LLC, is focused on a differentiated approach delivering an effective solution to address the major challenges of venous thromboembolism (VTE). To learn more about Akura Medical, please visit www.akuramed.com.

The Akura Medical mechanical thrombectomy platform is in the research and development phase and is not FDA cleared, CE Mark approved nor approved for sale worldwide.

About Shifamed, LLC.

Founded by serial entrepreneur Amr Salahieh, Shifamed is a highly specialized medical innovation hub focused on developing solutions that accelerate time to market, reduce risk, increase impact, and forge a path toward a world where patients are able to lead longer, healthier lives. To learn more about Shifamed, please visit www.shifamed.com.

MEDIA CONTACT:

Jennie Kim

SPRIG Consulting, LLC

[email protected]

References:

Centers for Disease Control, Data and Statistics on Venous Thromboembolism

SOURCE Akura Medical, Inc.

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