California, USA-based private medical technology company focused on addressing the clinical challenges of aorto-ostial interventions, Ostial Corp closed its Series C financing at USD 7.5 million. The company announced the closure on February 8, 2023. Delos Capital led the financing for the company. Meanwhile, AMED Ventures and other existing investors also joined in the funding.
Purpose of funding for Ostial Corp
With the latest capital injection, Ostial Corp seeks to accelerate the commercialization of its FLASH™ Aorto-Ostial Angioplasty System (FLASH System). It has plans to double its sales force. Meanwhile, the company aims to execute national programs. Further, it has plans to expand its clinical research and scientific advisory of its dual balloon-based system.
In addition, the company intends to commence the development of the next-generation FLASH System.
What the company’s official has to say
Jon Bohane, General Manager and Chief Operating Officer of Ostial, said, “With support from Delos Capital and AMED Ventures, Ostial is on an exciting trajectory to further commercialize the FLASH System, build out its sales and operation teams, accelerate the product into new and existing accounts, and advance our current FLASH technology.”
In addition, Michael Lankford, Vice President of Sales and Business Development at Ostial, said, “Aorto-ostial stenting represents a growing worldwide ‘neck to waist’ market opportunity. With this new influx of capital, our field team will have the opportunity to cast a wider net and make the FLASH System available to more physicians seeking to treat challenging aorto-ostial lesions confidently.”
What the investors have to add
Henry Chen, Managing Partner of Delos Capital, further commented, “Our vision is to arm physicians with advanced innovation that uniquely addresses the treatment of high-risk areas in coronary and peripheral cases. Ostial is uniquely posed to seek partnerships with other innovative, synergistic technologies that will expand its cardiovascular platform beyond FLASH.”
About the company
Farhad Khosravi launched the company in 2010. The USA-based Ostial Corp’s first product, the FLASH Aorto-Ostial Angioplasty System, allows physicians to confidently treat ostial cases with true 360° lesion coverage. Its product enables streamlined vessel reaccess as well as optimal patient outcomes. The FLASH System is the first and only dual-balloon angioplasty catheter designed to overcome the challenges of aorto-ostial stenting by delivering complete, 360° stent apposition at the ostium. The company has already sold the product to 350 hospitals, with 19,000 commercial units sold so far.
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