Instylla, a company developing next-generation liquid embolics for peripheral vascular embolotherapy, today announced the closing of a US$30 million financing round.
This financing round was led by new investor, Delos Capital, with continued participation from the investor syndicate of Excelestar Ventures, Ascension Ventures, Catalyst Health Ventures, Amed Ventures, Sparta Group, and Incept. The funds from this financing are anticipated to see Instylla through the ongoing prospective clinical trials and early commercialisation.
“At Instylla, we are executing two large pivotal clinical trials in North America in pursuit of our two initial indications for the embolization of hypervascular tumours and peripheral arterial bleeds. The funds will allow us to complete the clinical trials and prepare for the commercialisation of Embrace Hydrogel Embolic System (HES) from Instylla. “We are excited to have Delos Capital join our strong group of healthcare investors who share our values,” said Amar Sawhney, CEO of Instylla and managing director of Incept.
The Instylla HES hypervascular tumour pivotal study is currently enrolling patients in the US and Canada to evaluate the safety and effectiveness of the Instylla HES compared with standard of care transcatheter arterial embolization or transcatheter arterial chemoembolization for the vascular occlusion of hypervascular tumours. The HALT Study was recently launched in the US and is continuing to enrol patients to study the safety and effectiveness of Embrace HES for the embolization of arterial bleeding in solid organs and peripheral arteries.
As part of this round of financing, Henry Chen, Managing Partner, Delos Capital has joined the Instylla board of directors. “Instylla has demonstrated impressive progress, having already advanced its next-generation liquid embolic technology to human clinical studies. We are honoured and thrilled to support Instylla as it continues developing breakthrough solutions that will meaningfully improve patient outcomes,” said Henry Chen.