KALAMAZOO – Innovative Cardiovascular Solutions LLC, the developer of a device to improve patient safety during a heart procedure, closed on $8 million in capital raised to support clinical trials and production.
The Series C capital round supports further development of Kalamazoo-based Innovative Cardiovascular Solutions’ Emblok Embolic Protection System that’s designed to collect debris in the blood that may dislodge during a transcatheter aortic valve replacement. That reduces the chance of a blockage and prevents a potential stroke or other neurocognitive damage.
The company plans to use proceeds from the capital raise to pay for U.S. and European clinical trials, as well as production and “other activities,” according to a statement.
“Our team has made significant progress refining the system’s design and preparing for the U.S. pivotal trial. We are in discussions with the U.S. Food and Drug Administration (FDA) to finalize the pivotal trial design and look forward to demonstrating the Emblok system’s clinical impact during structural heart procedures,” founder and CEO Kevin Plemmons said in a statement.
Plemmons told MiBiz in September that a successful completion of the clinical trials would validate the device’s safety and efficacy and lead to regulatory approval in the U.S. and Europe, and the eventual sale of the company’s intellectual property.