Aliso Viejo, California-based Okami tapped Drew Hykes as its new president and CEO. It also appointed Bill Hoffman as chair of its board.
Hykes previously served as the CEO of Inari Medical, a maker of solutions for venous thromboembolism (VTE) clot removal without the use of thrombolytic drugs. Stryker acquired Inari Medical in February for $4.9 billion.
Now, Hykes joins Okami, a developer of novel vascular embolization solutions. Its offerings include theLOBO (low-profile braided occluder) vascular occlusion system and the Sendero microcatheter.
LOBO provides interventional physicians with a single-device, one-and-done solution for occluding a wide range of arterial targets. It also eliminates the need for multiple embolic devices. Its proprietary HDBraid technology creates a highly occlusive pore structure that substantially reduces blood flow and accelerates vessel closure. The platform enables the fast and efficient closure of blood vessels throughout the body to help treat a diverse set of conditions. Sendero enables the smooth delivery of interventional devices while providing optimal trackability through tortuous peripheral vessels. Okami designed the FDA-cleared system for the delivery of LOBO-3 and LOBO-5 devices.
“I’m honored to join the Okami team and have been deeply impressed by the clinical performance and versatility of the LOBO vascular occluder across a wide range of anatomies,” said Drew Hykes, Chief Executive Officer of Okami Medical. “I look forward to working with this talented team to accelerate our commercial expansion, advance our innovation pipeline, and bring this important technology to more physicians and patients.”
More on the Okami financing
The $45 million in funding adds to $32.5 million brought in just over a year ago. New investor Gilde Healthcare led the financing. Existing investors, including Vensana Capital and U.S. Venture Partners, also participated.
Okami plans to use proceeds to expand its commercial footprint and advance its clinical programs. Funding could also go toward the continued innovation of the company’s versatile devices designed for the occlusion of peripheral vessels.
As part of the financing, Geoff Pardo and Susana Amorim of Gilde Healthcare joined Okami Medical’s board of directors. Pardo said that the firm previously partnered with Hykes at Inari and looks forward to collaborating again in this endeavor.
“We have followed Okami for years and have been impressed by the strength of its technology and the scale of its market opportunity,” said Pardo, general partner at Gilde Healthcare. We believe Okami’s LOBO platform has the potential to transform treatment and significantly improve outcomes for patients with serious unmet needs.”
