Sofinnova Partners led the round with matching contributions from the European Innovation Council Fund (EIC Fund).
Tel Aviv, Israel-based Endoron — a MedTech Innovator accelerator participant in 2022 — said in a news release that it plans to use the funds to accelerate the clinical validation of its Aortoseal endostabling solution. The device continues to go through its FDA investigational device exemption (IDE) early feasibility study.
Endoron develops its technologies for the endovascular repair of abdominal aortic aneurysms (AAA). The technology addresses the critical challenges of sealing and securing endografts used in minimally invasive AAA repairs. This particularly applies to complex procedures.
The company says its innovative stapling mechanism ensures the complete sealing of endografts while securely anchoring them. This prevents long-term migration and endoleaks, reducing the need for highly invasive, high-mortality open surgeries.
Endoron says the funding positions it to capitalize on a “growing market opportunity to drive innovation in endovascular care.”
“Sofinnova Partners are the go-to investors within medtech. They bring a wealth of operational experience working with high-growth companies like ours,” said Ronit Harpaz, co-founder and CEO of Endoron. “With their continued support, I am confident we will reach key clinical and regulatory milestones as we advance our EndoStapling technology towards the clinic. The EIC’s participation further solidifies our commitment to bringing this innovative solution to the European market.”
