Shape Memory Medical Secures $10M Debt Financing for Embolization Products

Shape Memory Medical, a San Jose, California-based medical-device company, has raised $10 million in a debt financing round. The round was led by August Global Partners, with participation from Taiwania Capital, Earlybird Venture Capital, HBM Healthcare Investments, and WexMed II, LLC.

Company Overview

Shape Memory Medical develops endovascular embolization products based on its proprietary volume-expanding shape memory polymer (SMP) technology. Its IMPEDE and IMPEDE-FX embolization plugs are CE Marked and cleared in the US, with regulatory approvals in more than 40 countries. Over 3,500 patients have been treated worldwide with these devices.

Clinical Trials

The company is currently conducting the AAA-SHAPE randomized pivotal trial of its investigational IMPEDE-FX RapidFill device for abdominal aortic aneurysm sac management. Additionally, it is running a FLAGSHIP first-in-human aortic dissection study.

Use of Funds

The debt financing will likely support the company's ongoing clinical trials and regulatory efforts as it continues to expand its product portfolio and global reach.