DURHAM — InnAVasc Medical, which is developing medical devices that provide safer vascular access for patients with kidney failure, has raised $414,500 in debt, according to a securities filing.
Twenty investors contributed to the round, which is capped at $1 million, with $585, 499 remaining to be sold.
Joseph Knight, its CEO and president since 2016, signed the filing.
Founded by Duke University surgeons and scientists, the Durham-based startup landed its first round of funding in October 2014 and won a $100,000 Duke University DTMI Collaborative Pilot Grant in 2015.
The NC Biotechnology Center also awarded the company a $250,000 small business research loan.
Knight, a Ph.D, has nearly 15 years of experience in medical device innovation and commercialization. He has been part of the intellectual property development, business, and strategic planning for four different ventures – including iRhythm Technologies and as Founder/CEO of Medici Medical Technologies. He also spent 5 years at Medtronic in various roles in marketing, business development, and strategy.
The company’s first technology is an arteriovenous graft (AVG) modification that incorporates two multilayer cannulation chambers with low bleed technology. It is designed to prevent graft bleeding, thrombosis, infection, and failure.
