VenoStent, Inc.

Imagine going in for a necessary surgical procedure and being told that 60% of these fail. Full failure. Arteriovenous (AV) fistula is a surgical procedure that creates a connection between an artery and a vein for dialysis access. Millions of people are on #dialysis around the world, not to mention the millions of others who need to be on it but are not due to access or finances. This is a problem that needs solving. VenoStent, Inc. is on a mission. This conversation with Geoffrey Lucks and Timothy Boire is as much encouraging as it is sobering. They have a solution. Have been following their company through one of their Board Advisors Michael Nagel. They recently raised $20M led by Good Growth Capital & IAG Capital Partners with participation from Norwest Venture Partners. They have also secure a $3.6M grant through the NIH. I had heard they were brilliant. During this conversation, it was difficult not to get caught up in their confidence and enthusiasm. Their SelfWrap bioabsorbable perivascular wrap which goes around the access site increases durability and usability. Basically, it makes an incredibly difficult but necessary procedure work. Changes the patient's life along with their families. Keep tabs on their work. It will affects millions around the world. This clip breaks down why it is a critical need. Enjoyed having them on the Family Business. The full conversation is in the comments. #medtech

Our healthcare team’s north star is investing in companies that realize better patient outcomes at lower costs. We’re proud to continue that momentum with our investment in VenoStent, Inc.’s Series A. VenoStent is seeking to improve the lives of more than 500,000 U.S. patients who receive life-saving dialysis to treat end-stage renal disease (ESRD) or kidney failure each year. The preferred access method (and current standard of care) for dialysis is creating an arteriovenous fistula (AVF) – a surgical connection between an artery and vein. But AVFs are rife with medical challenges, and a significant proportion of patients ultimately can’t use them for dialysis. In fact, only 40 percent of AVFs remain operational within one year after their creation. VenoStent, Inc. aims to dramatically improve outcomes for AVF patients with its bioabsorbable perivascular wrap, SelfWrap. SelfWrap’s early human studies have demonstrated the potential to significantly improve the AVF process and allow AVFs to remain functional longer. Once SelfWrap receives FDA approval, it could increase access to life-saving dialysis for ESRD patients. In short, we’re excited about VenoStent because:  ◼ They’re addressing a serious unmet need in a large patient population that has no other options ◼ The SelfWrap procedure is safe, fast, and easy to perform. Its first-in-human trial demonstrated compelling, first-of-a-kind results ◼ Their top-tier management team, board of directors, and team of advisors has extensive experience in medical device development and approval Read more from our General Partner Zack Scott and Investor Ehi Akhirome: https://lnkd.in/gAmkJU7V

“The key, for entrepreneurs, is to think about what is the highest impact thing that I can do, what is the critical milestone that I can achieve to get to the next point where I can raise some additional capital.” Meet Timothy Boire and Geoffrey Lucks, co-founders of VenoStent, Inc., who are tackling a major challenge in dialysis access. Tim is a biomedical engineer who discovered the Achilles heel of vascular surgery during his time as an entrepreneurial lead at National Science Foundation (NSF) I-Corps. Geoffrey, on the other hand, has a Master's in Bioethics from the University of Pennsylvania and an MBA in Finance from Vanderbilt University, where the two met. Their product, SelfWrap, is a bioabsorbable wrap to improve the success rate of vascular surgeries. It could mean fewer complications, better outcomes, and longer-lasting access points. Here’s an inside peak at their conversation with Scott Nelson: 👍🏽 In medtech, the first task is to prove your concept. Thoroughly research your space, seek feedback from clinical experts throughout the entire process, and engage with partners who can offer the expertise that you need in your product development. 📐 Showcase your market savvy by demonstrating a real problem, a working solution, and a sizable market. Then build early prototypes, learn from them, and continuously improve. Get your device into the hands of potential users as soon as possible and seek early feedback. 👨🏻🤝👨🏽Forging a collaborative relationship is the golden rule for navigating regulatory interactions. Understand FDA’s perspective, follow their guidance, and foster transparency. At the same time, make sure you capitalize on the advantages of your chosen regulatory pathway and position your device accordingly. Check out the full interview in the comments below. This Medsider episode was brought to you by FastWave Medical, a hot IVL startup in the cardiovascular space. Don’t miss out on their next fundraise (more details in the comments). P.S. - We just launched Medsider Mentors Volume VI, which is packed with insights and learnings from founders and CEOs of some of the most dynamic medical device and health technology startups in the world. Click the link in the comment section for this latest edition now available exclusively to our premium members.