Acumen Analytics Announces Kneat Services Partnership

Acumen and Kneat Partner to Drive Digital Transformation in Validation for Life Sciences Companies Worldwide

Philadelphia, September 14, 2021 – Acumen Analytics announced today its training certification and approval as a kneat.com, inc. (TSX-V: KSI) (“Kneat”) Services Partner.  As a certified Kneat Services Partner, Acumen Analytics is now qualified to provide support for Kneat Gx users.

Working together, Kneat and Acumen Analytics will drive digital transformation in facilities, equipment, and computer systems validation processes for the life sciences industry; combining Kneat Gx, with Acumen Analytics’ extensive industry, technology, innovation, data, and advanced analytics experience.

“Kneat Gx, a digital, real-time, standardized, scalable, and audit-ready solution, is revolutionizing the efficiency, control, traceability, and intelligence of work processes. We are enabling life sciences companies to remove the limitations of legacy technologies,” said Eddie Ryan, Chief Executive Officer of Kneat. “Our industry has reached an inflection point for digitization and we look forward to working with Acumen Analytics to enhance the value that we deliver to our customers.”

“Becoming a Kneat Services Partner will further enable us to help our clients increase their speed to market, reduce cycle times and drive Good Manufacturing Practices with validation lifecycle management solutions and services,” said Kathleen Brunner, CEO at Acumen Analytics. “We are excited to partner with Kneat to provide each of our life sciences sector customers intelligent, digitized solutions that enable efficiency, control, traceability and insight.”

 

About Acumen

Acumen is a leader in using data, technology, advanced analytics, innovation, and expertise to help drive digital transformation in the life sciences industry. Acumen team members are recognized as visionaries, strategists, problem solvers, technologists, data scientists, analysts, and engineers. In partnership with the companies we serve, we are creating effective future forward solutions that accelerate patient outcomes and make the impossible possible.  For more information visit www.acumenanalytics.com

 

About Kneat Solutions
Kneat Solutions develops and markets the next generation Kneat Gx software platform. Multiple business work processes can be configured on the SaaS platform from equipment to computer system validation, through to quality document management. Kneat’s software allows users to author, review, approve, execute testing online, manage any exceptions and post approve final deliverables in a controlled FDA 21 CFR Part 11/ Eudralex Annex 11 compliant platform. Macro and micro report dashboards enable powerful oversight into all systems, projects and processes globally. Customer case studies are reporting productivity improvements in excess of 100% and a higher data integrity and compliance standard. For more information visit www.kneat.com.

D2 Groups Welcomes new Director of Life Sciences

D2 is very excited to announce that George Swallow has joined D2 as Director of Life Sciences and will be leading the team as we build our growing portfolio in that market! He comes to us with a wealth of knowledge and expertise gained from over 35 years in the industry. Most recently George was Discipline Leader and Director of Design for the Science and Technology studio at Bergmann Architects where he oversaw large and highly technical projects.

George’s role at D2 will be to further establish and grow our Health Sciences studio. His addition allows us to take on more projects of greater complexity. He will be invested in all aspects of project design and delivery, ensuring an exceptionally coordinated team and highly precise, innovative, and technically polished solutions. George is currently licensed in both PA and AZ. His philosophy can be neatly packed into just two words, “continuous improvement”, which captures both his personal development and career growth as well as his passion for mentorship. After gaining unparalleled expertise in the field, George has become a guide to the young architects he works with. We are thrilled to have such an enthusiastic teacher in the studio.

“I have come to D2 with extensive laboratory experience of which I have a great desire to share with the firm. In addition to leading the project teams, I will be working to broaden our circle of clients to make D2 a leader in the Life Sciences market. After gaining an understanding of the firm’s growth projections, internal culture, and market reputation, I knew this would be a great company for me to be a part of.” – George Swallow, RA.

Warm welcome from the entire studio, George!

Announcing PACT Solution Builder – Your Solution for Employee Health Benefits

Following on the Heels of our Lion’s Story Racial Literacy Course Offering, PACT is thrilled to announce our latest member benefit, PACT Solution Builder, a one-stop-shop for employee benefits.  Tailored for companies of at least 40 employees, our solution offers BIGGER and BETTER benefits that were not previously accessible for smaller companies.  When was the last time you did a deep dive on your current broker and benefits package?

Providing employees with the BEST employee benefits package is critical for fast-growing and innovative organizations that want to attract and retain top talent. To help our members offer big company benefits at an affordable rate, PACT has partnered with Exude, Inc., an insurance and human capital consulting firm, to create an innovative employee benefits solution that will allow you to fund best in class benefit offerings.

PACT Solution Builder™ allows employers to leverage their collective purchasing power to drive down costs and spread risk in a partially self-funded program. This exclusive program will drive down healthcare costs allowing you to upgrade your benefits and ultimately improve the employee experience. An employee benefits program of this caliber will allow you to compete for talent with some of the largest tech across the country.

Upgrade your benefits plan to include things like: mental health, well-being, child care, pet insurance, travel match, student loan programs, fertility treatments, and health advocacy.

We hosted an informative webinar with Greg Grimm, VP of Employee Benefits at Exude Inc. and Nora Leco, VP of Internal Operations at Think Company.  Greg will be your go-to for any questions or to sign up.  Nora provided a real-life case study on the benefits of partnering with Exude for your benefits.  You can watch the full Webinar now:

 

We also prepared an informative brochure covering some of the most frequently asked questions: Driving Employee Benefit Innovation 

To take advantage of Solution Builder, or to learn more, please contact Greg Grimm at ggrimm@exudeinc.com.

How to Attract Investors and Get Funding for Your Startup Business

This is a guest blog post from our friends at G-Squared Partners

You poured your heart and soul into your business, and now it’s time to determine how to attract investors and secure funding to continue growing. But how would you fare if investors – like VCs, angel investors, and bankers – were to evaluate your company? What components will drive their decision to invest or not? When you know what to expect, pitching your idea to investors may feel less intimidating and more like, “Let’s see if we’re the right fit. “The process of getting startup funding for your business may put you on edge just a bit— not because you don’t know your company inside and out, but because you’re uncertain what will be asked of you when you meet with potential investors.

We’ve worked with all kinds of entrepreneurs from many industries and came up with 11 steps that will help you attract investors and get funding for your startup business.

 

# 1.  Develop a Strong Business plan

Your business plan is an all-important document that proves one thing to investors: that your business is worth their risk. Your plan should clearly outline your business objectives and goals and demonstrate your team’s expertise in your field. Show that you have a deep understanding of your customers (your target market) and provide a complete description of the product or services you offer.

Read: Business Startup Checklist: A Cheat sheet for New Entrepreneurs

An essential section of the business plan is your marketing plan. It defines your market size and growth prospects and should show trend influences and sales potential. Here is where pricing, promotion, and distribution strategies come into play. Talk about barriers to entry as well, addressing how you plan to keep competitors at bay. Finally, make things digestible for everyone by presenting your business plan in an engaging format. Not only does this make you stand out, but your audience may also actually thank you for it.

It’s worth noting that investors already familiar with your industry and market may be more likely to invest in your company because of their expertise and comfort. Note their knowledge may also mean more targeted questions for you, so be prepared to showcase your experience.

# 2.  Develop a Forecast Model

A transparent, replicable business model that is scalable and as detailed as possible is essential. Show investors that you not only forecasted growth, but you’ve planned for it. Be ready to prove how your business model will help your company become more profitable. Emphasize financial and market issues, as these are vital areas for investors.

A reasonable forecast model is a tool for investors to determine how well you know your market and your presumptive success concerning your market. Your model should be realistic but also show enough revenue and growth to keep investors interested. Just be ready to explain how you’ll achieve your numbers. Consider providing conservative and aggressive forecasts to show alternate assumptions— from more cautious to more optimistic. Remember that forecasting is an ongoing process that requires constant reassessment. The more up-to-date your projections, the better prepared you’ll be to make informed strategic decisions for your business.

#3. Obtain Customer References

Investors want to speak directly with customers who have first-hand experience with your product or services.  A conversation with a customer brings a unique perspective about your company that simply cannot be gained through a meeting with you or by reading your company’s marketing materials or website.

Investors are looking to understand the value your business brings to customers, the process your customers went through when deciding to buy, what your customers’ user experience is like, and what differentiates you from competitors. Have customers ready to offer interviews to potential investors when the time comes.

#4. Address IP (if applicable)

Intellectual property, or IP, is more important today for businesses than ever, particularly for technology start-ups and manufacturing firms whose knowledge serves as a sustainable and defensible differentiator for the company. The three types of intellectual property are patents, trademarks, and copyrights. Investors want to see that you know what IP your company needs to protect and how to protect it.

According to the Startup Genome Project, IP has been identified as the critical ingredient for startups worldwide to gain a competitive advantage in the market.

#5. Be Ready to Explain Your Cap Table

A capitalization table (cap table) lays out all the equity and debt ownership and liquidation rankings of the various investors or lenders invested in a business. For investors, a cap table is valuable because it reveals precisely how much of the company’s founders may own.

Investors want to ensure their interests are aligned with the founders, and there is enough equity left over to bring in investors at later rounds. Be forewarned that “founder dilution” can raise a red flag—where cash provided to founders can come on onerous terms.

#6. Explain Your Financial Statements

Your company’s financial statements tell a lot about how you operate your business. In particular, investors care about your cash flow, your debt obligations, and your equity. Having cash in the bank proves you’re prepared for unanticipated problems and that you can capitalize on new opportunities.

Good cash flow (and providing a strong cash flow projection) is a sign of sustainable operations that comforts investors; they trust you can stay outside the “red.” Alternately, debt obligations translate into cash being eaten up in debt payments. Slow months can mean your inability to meet payroll and other expenses. What about equity? Investors are interested in buying stock in your business, so they’ll use your financial statements to calculate your company’s worth to shareholders.

#7. Justify Use of Proceeds (Use of Funds)

Investors want to know precisely how your company plans to use its proceeds. Will you allocate their money to capital expenses? Research and development? Legal and accounting fees? What about recruiting costs and salaries? Establishing capital efficiency early in the process can help your company develop insightful leadership and ultimately make you more attractive to investors. Be prepared to explain to investors what milestones you’re aiming to achieve and the anticipated results.

Investors analyzing your company’s potential for investment will examine your financial performance from every angle. Let them know how you intend to grow your business quickly using the least amount of their invested cash. Spending wisely should be your objective regardless of economic conditions, so set a track record for sound money management.

#8. Acknowledge Total Address Market and Go-To-Market Strategy

Total addressable market, or TAM, informs investors as to the potential size of your market. How many customers can be reached? How long might it take to become a market leader? Understanding market sizing not only helps in steering your business but also aids in determining your go-to-market strategy. Understanding your TAM will help you make predictions about your market’s true size, how many prospects you can expect, how long your sales pipeline will remain satisfied, and potential revenue for a specified time frame.

Investors want to know how you plan to utilize your resources to reach and deliver value to customers to gain a competitive edge. Fluidity is key—as your market, industry, and business change, so must your strategy. Keep in mind that investors want companies that can grow quickly and manage that growth. You must be able to articulate your TAM to investors and discuss your strategy to achieve it.

#9. Present a Strong Sales Pipeline

There is no business without sales. Investors must be convinced that people are willing to buy your product or services. Your product or service must stand out from what’s already being offered in the market. Your differentiators should be easily definable when explaining the sales process to investors.

Perhaps your competitive advantage lies within your intellectual property, or maybe you’re solving a problem in a new way. Be prepared to prove to investors, using concrete evidence, that your market potential is large enough to warrant an investment. Provide a track record of sales you’ve already made (breaking down the number of prospects at each stage in the buying process) and show how you plan to continue to expand your pipeline to grow the business and make money.

G-Squared Tip: Explain how you’ll “build a moat” around your business, such as using patents or other intellectual property to protect your unique position. Address the intangible elements you’ll use to protect your brand, making it as impenetrable as possible.

#10. Perform Legal Due Diligence

Investors interested in investing in your company will unquestionably have an attorney conduct a complete legal review. The legal due diligence process, while stressful, is essentially the final check on all legal aspects of your business and team. Investors not only gain deeper insight into your company and operations before purchasing, but they also use the information gleaned to help them determine their purchase price.

It’s wise for their legal team and yours to establish a good rapport for the process to run as smoothly as possible. For more on legal due diligence and proper planning, take a look at the article: “What Every Business Owner Needs To Know About Legal Liability“.

#11. Provide Management Team Bios & References

Investors have a keen interest in both you (as the CEO) and the management team—from understanding their industry background to their business experience. They need to feel confident that you and your team can lead the company to growth and make a return on their investment. As “top banana,” your experience matters profoundly to investors. They want to know you have a proven track record for superior performance and expertise and leadership in your industry or previous venture. Ensure you exude confidence and passion and demonstrate your willingness and ability to change course should your company need to shift direction.

Other positive traits investors look for in CEOs are the ability to make decisions with input from your leadership team (there’s no room for indecisiveness), excellent relationship and networking skills, and the ability to build a company around core competencies and deliver on them.

G-Squared Tip: References will likely be contacted to vouch for your team members, as such “outsiders” can provide perspective regarding your team’s talent, track record, and potential for success.

 

Final Thoughts

Investors assume risk whenever they invest. An exit opportunity provides them a “reward” for their risky move. It’s therefore imperative to integrate an exit strategy into your business plan. Let investors know how you plan to return their investment (and then some!). Will you pursue an acquisition? Merge with another company? Choose an exit strategy that aligns with your business and personal goals. Your time frame may vary, so think about when you may want to implement your exit strategy as well. The objective is for all parties to exit profitably.

Once your meeting is over, let us know how you did! We’re seasoned in helping entrepreneurs like you lay the rock-solid financial groundwork that investors are looking for when pinpointing businesses for funding. As exhilarating as it is, the fundraising process can be intimidating. But when you’re prepared, you can go in strong and confident—moving you one step closer to achieving your goal. Need help getting your financials in order? Learn more about our CFO and bookkeeping services or schedule a consultation.

Do you have further questions about how to attract investors to your business? G-Squared provides strategic financial, accounting, and operational expertise to CEOs and entrepreneurs.

 

 

 

 

FinPay Recognized as Inc. 5000 Company

PHILADELPHIA, August 17, 2021 /PRNewswire/ — Inc. magazine today revealed that FinPay, a recognized leader in precare payments and patient engagement, is ranked No. 1,197 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. The list measures growth between 2017 and 2020, during which FinPay experienced rapid growth.

“We are honored to be selected by Inc. Magazine to join this impressive list of high-growth companies, especially with the challenges the pandemic presented to so many companies and people over the past 18 months.,” said Tim Kowalski, CEO of FinPay. “This award reflects the hard work of our team and the ability to support our customers and their patients. We look forward to continuing offering pre-care payment programs to ease the burden for patients that otherwise could not afford treatment.”

Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.

“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”

 

About FinPay

FinPay is a fully managed technology solution for Patient Financial Management that is committed to solving the affordability crisis in healthcare by enhancing the patient financial experience through pre-care engagement, expanding healthcare financial literacy, advocating for cost transparency, and offering affordable payment options, all while restoring consumer trust in the American healthcare system.

 

FinPay Media Contact

Stacy McCloskey

Director of Marketing

stacy.mccloskey@finpay.com

MissionOG Announces the Acquisition of Fund I Portfolio Company Accurate Group

MissionOG is excited to announce the acquisition of Fund I portfolio company Accurate Group by private equity firm Novacap. Accurate provides technology-driven appraisal management and title services to real estate finance providers nationwide resulting in lower cost, more accurate portfolio valuations, and improved compliance.

MissionOG invested in Accurate in 2014. Since that time, Accurate has emerged as a market leader and digital innovator in the mortgage technology market.

“We are extremely pleased to be partnering with Novacap to help us accelerate the next stage of our growth. Accurate Group has demonstrated continuous growth even in times of market volatility,” noted President and CEO Paul Doman. Congratulations to the entire Accurate Group team, our co-investor ABS Capital Partners, and all others that supported the Company through this process.

Accurate is MissionOG’s fifth realization in 2021 and ninth in the past eighteen months, including Alkami, Bento, Clip, Deko, DivvyCloud, Katapult, OnBe, and Solovis. We are proud to have helped these companies grow and become leaders in their respective markets.

To learn more about the acquisition, please refer to the company’s announcement here.

 

COVID-19 Protocols

PACT’s highest priority at any and all in-person events is the health and safety of our attendees.  As a result, we will at a minimum, strictly adhere to current CDC, local and venue guidelines when planning and executing in-person events.  For the immediate future, PACT will require proof of vaccination for all attendees of in-person events.  PACT event staff has been certified in Pandemic Onsite Protocol.

OrthogenRx® Debuts HARMOKNEETM Customer Support Services at American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting

New suite of customer-focused services provides optionality and simplicity, further differentiating the company’s customer experience

DOYLESTOWN, PA, USA September 1, 2021 – OrthogenRx®, Inc., a medical device company focused on the development and commercialization of treatments for musculoskeletal conditions, including osteoarthritis, today announced it will showcase its new platform HARMOKNEE™ Customer Support Services, at the 2021 American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting in San Diego, CA August 31- September 3, 2021.

The AAOS Annual Meeting is where the musculoskeletal community will reunite in person for the first time in nearly two years.  OrthogenRx is exhibiting at booth #3935 and featuring their products, as well as launching the HARMOKNEE Customer Support Services program.

HARMOKNEE Customer Support Services underpins OrthogenRx’s aspiration to provide every patient with the products they need through a seamless and integrated process. The HARMONKEE platform provides simplified options for healthcare professionals and patients to access OrthogenRx Hyaluronic Acid (HA) products, TriVisc® and GenVisc® 850, that are used to improve joint lubrication and cushioning to treat knee pain due to osteoarthritis (OA) in patients who have failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics, e.g., acetaminophen.  TriVisc and GenVisc 850 make OrthogenRx the only company in the US with both a non-avian three and five-injection regimen option.

“With today’s healthcare dynamics, providers are constantly faced with trying to seek the best treatment regimen for patients that are not burdensome, safe and efficacious.  HARMOKNEE Customer Support Services is the result of our continued focus on both patient and provider experiences over the last few years in providing an ease of access to treatments,” said Jacqueline Cronin, Senior Manager of Marketing and Market Access at OrthogenRx.  “HARMOKNEE is our integrated approach to customer service that provides simple solutions for a growing U.S. population that continues to be impacted by knee OA by pain, decreased function and impact on their quality of life.

“We have taken notice of the increasing number of patients who have limited (underinsured) or no access (uninsured) to a safe and efficacious class of products for the treatment of their chronic knee pain.  Over the last few years and especially during the COVID-19 pandemic, OrthogenRx has interceded to ensure healthcare professionals, and patients, have continued to have access to our products, regardless of insurance status,” said Ashley Wohl, Vice President of Marketing. “HARMOKNEE support services is the result of that effort, making OrthogenRx products easy to obtain and backed with dedicated support for patients and providers.”

HARMOKNEE includes support services that streamline the prescribing and reimbursement process at no charge; making it easier for OrthogenRx customers to obtain prior authorization forms for insurance specific plans and initiate benefits investigations.

Additional HARMONKNEE services include a Direct Purchase option that provides patients with access to significant savings while eliminating the challenges often associated with reimbursement. A dedicated customer support team works in lockstep to help ensure patients get the pain relief they need.

Dedicated Account Specialists

OrthogenRx understands the complexity of healthcare and that sometimes you need to quickly speak with someone who will assist you with issues that may arise. In line with our company commitment to facilitating access to healthcare information, our team of friendly customer service representatives are available to answer questions and help meet your needs.

 

To learn more about HARMOKNEE Support Services please visit OrthogenRx.com or stop by booth #3935 and follow us on Twitter @orthogenrx

 

ABOUT OrthogenRx

OrthogenRx, Inc. is a medical device company focused on the development and commercialization of treatments for knee pain caused by osteoarthritis (OA). OA is the most common cause of knee pain, causing sufferers significant pain and disability. OrthogenRx aspires to provide every patient with the products they need and assist in getting them back to a life without OA knee pain.

Biomeme & Predigen Merge to Enable Point-of-Care Delivery of Host Response Tests That Address Critical Unmet Needs in Healthcare

PHILADELPHIA , Aug. 26, 2021 /PRNewswire-PRWeb/ — Biomeme, the leading provider of portable PCR testing solutions, has signed a definitive agreement to acquire Predigen, a privately held diagnostic company and emerging leader in precision medicine focused on host response diagnostics. Predigen’s acquisition will expand Biomeme’s capabilities across infectious disease and clinical microbiology, business management, and commercialization.

Predigen’s portfolio includes flagship host gene expression biomarkers for the pre-symptomatic detection of viral infections as well as biomarkers that accurately discriminate viral from bacterial infections to enable appropriate patient management and antibiotic stewardship. Predigen also has signatures for sepsis diagnosis, sepsis risk stratification, and a pipeline of biomarkers for non-infectious diseases. With nine different patents at various stages of execution, this scientific team has received over $50 million in grant funding from the Department of Defense (DoD), National Institutes of Health (NIH), Department of Veterans Affairs (VA), and Department of Homeland Security (DHS).

According to Brian Best, Predigen’s CEO, “Prior to the pandemic, the over-utilization of antibiotics and increasing antimicrobial resistance were dominant concerns among the infectious disease community. That need still exists and it is a significant market opportunity that requires accurate, near-patient and rapid-result performance capabilities. This merger will enable an end-to-end solution to meet this challenge.”

Biomeme’s portable quantitative real-time PCR platforms enable precise measurement of these host transcriptional response signatures for use in a wide variety of settings including, but not limited to, hospitals, emergency departments, physician offices, clinics, nursing homes, pharmacies, schools, cruise ships, employers, and military.

With Predigen’s deep host response portfolio and Biomeme’s expertise in qPCR consumables, hardware, and software, the new and improved company is equipped to launch their first host response diagnostic platform as early as 2023.

“It has long been clear that tests to reliably distinguish bacterial and viral infections simply don’t exist on the market. We are now on the verge of introducing a revolutionary technology to the medical community: measuring host gene expression at the point-of-need to inform appropriate use of antibiotics,” said Predigen co-founder, Ephraim Tsalik, MD, PhD.

Over the years, Biomeme and Predigen have worked successfully together on numerous projects, including the Antimicrobial Resistance (AMR) Challenge and the Congressionally Directed Medical Research Program (CDMRP, DoD). The companies have collaborated to support the Department of Homeland Security’s Cross-Border Threat Screening and Supply Chain Defense. The NIH’s Antibacterial Resistance Leadership Group (ARLG) has also sponsored development of the Bacterial vs. Viral host response test with ongoing support for its validation.

“Biomeme’s mobile molecular detection solutions have been utilized for bio-surveillance by the Defense community for many years,” said Biomeme co-founder and Business Lead, Max Perelman, “With the explosive growth of our human diagnostic solutions offered during the COVID-19 pandemic, Biomeme is well-positioned to deliver next generation diagnostics in Host Response, infectious diseases, and more.”

This merger is the next step in a successful and innovative partnership. Combining Predigen’s tests with Biomeme’s portable gold-standard platforms will deliver a better diagnostic solution for use in diverse healthcare settings. It is only the first step in pursuit of a mutual vision to deliver precision medicine solutions wherever patients and providers need them.

Predigen’s scientific team has published extensively in the area of host response. Examples of these peer-reviewed scientific achievements and the team’s research bibliographies can be found here.

About Biomeme

Biomeme revolutionized molecular detection in 2012 when it created the first smartphone-based real-time PCR thermocycler. Since its inception, Biomeme has used advanced biology and chemistry, along with world-class hardware and software engineering, to create elegant solutions to complex problems.

VESTECK, Inc. Closes $4.3M Series A Preferred Equity Round

We are always really thrilled to share news from PACT members but this one in particular hits home. CEO Joseph Rafferty was a member of our Mentor Connect program and VESTECK, Inc. was a featured company at our 2020 Capital Conference.

WEST CHESTER, Pa., Aug. 25, 2021 /PRNewswire/ — VESTECK, Inc., an early-stage medical device company, is pleased to announce its initial close on $4.3M of Series A financing, which includes conversion of all existing convertible notes.

The New World Angels (www.newworldangels.com) of S. Florida, led the Series A round with a $1.1 million investment.  The New Word Angels were joined by Florida-based DeepWork Capital and Ocean Azul Partners, as well as a number of Philadelphia-based investors, including Ben Franklin Technology Partners of Southeastern Pennsylvania, Robin Hood Ventures and the Delaware Crossing Investor Group. The Series A funds will support the manufacturing of products, pre-clinical testing and completion of in human procedures, prior to our clinical study for FDA clearance.

VESTECK has designed a platform technology comprised of 6 devices that integrate the delivery of nitinol sutures into a catheter, improving clinical outcomes for endovascular aortic aneurysm patients.

The “Suture-Tight” catheter delivers nitinol sutures more easily than current endovascular or surgical options, securing endovascular aortic repair grafts to the aorta at initial implant or in repair procedures.  Dr. David H. Deaton, Chief Medical Officer, says, “the Suture-Tight catheter makes the process faster, easier and safer for surgeons and patients.  Suture-Tight will become the standard of care.”  Vesteck expects to bring significant incremental revenue to an aortic repair market projected to be $4.5B by 2028.

VESTECK CEO Joe Rafferty stated, “We are truly honored that a consortium of such distinguished early-stage investors led by New World Angels believe in our plan, our team and our technology.  We are committed to proving their trust in us was accurate by helping solve this significant unmet need.”

Commenting on the investment, Steve O’Hara, president of New World Angels, said, “We are delighted to support Joe Rafferty and his team at Vesteck as they seek to improve patient outcomes for a number of less invasive surgeries, starting with endovascular aortic repair procedures.”

VESTECK was represented by Kevin M. Granahan of Fox Rothschild LLP.  The New World Angels were represented by Mark R. Mohler of Corridor Legal Partners, LLP.

Their first product, the “Suture-Tight” nitinol suture delivery catheter will bring a novel technology to endovascular aortic repair market solving a significant global challenge for physicians and patients.