Ablative Solutions today announced it completed the fourth tranche of its Series D financing round and raised $91.4 million.
Wakefield, Massachusetts-based Ablative Solutions earmarked the funds to complete the company’s ongoing Target BPI pivotal trial that is evaluating its alcohol-mediated renal denervation procedure.
“We are extremely pleased with the completion of our Series D financing round and the continued support of our investors, despite the challenges of the COVID-19 pandemic,” President and CEO Kate Rumrill said in a news release.
Ablative Solutions develops the Peregrine System Kit for renal denervation. It has two components – Peregrine System infusion catheter and dehydrated alcohol – that work together to reduce blood pressure in individuals with uncontrolled hypertension. The Peregrine System delivers small doses of dehydrated alcohol directly into the space outside of the renal artery to block the overactive signaling of sympathetic nerves.
“We continue to be appreciative of the amazing group of clinical partners we have and the progress made in our studies within our TARGET BP Program” said Rumrill. “We are encouraged by these efforts and look forward to sharing results when available.”
The Peregrine System Kit for renal denervation is not approved for commercial distribution and is limited to investigational use in clinical trials. The Peregrine System infusion catheter is FDA cleared for the infusion of diagnostic and therapeutic agents into the perivascular area of the peripheral vasculature and is CE marked for the infusion of a neurolytic agent to reduce systemic blood pressure.