April 24, 2020

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Med device startup InnAVasc founded by Duke surgeons raising $1M


InnAVasc Medical, which is developing medical devices that provide safer vascular access for patients with kidney failure, has raised $414,500 in debt, according to a securities filing.

Twenty investors contributed to the round, which is capped at $1 million, with $585, 499 remaining to be sold.

Joseph Knight, its CEO and president since 2016, signed the filing.

 

Founded by Duke University surgeons and scientists, the Durham-based startup landed its first round of funding in October 2014 and won a $100,000 Duke University DTMI Collaborative Pilot Grant in 2015.

The NC Biotechnology Center also awarded the company a $250,000 small business research loan.

Knight, a Ph.D, has nearly 15 years of experience in medical device innovation and commercialization. He has been part of the intellectual property development, business, and strategic planning for four different ventures – including iRhythm Technologies and as Founder/CEO of Medici Medical Technologies. He also spent 5 years at Medtronic in various roles in marketing, business development, and strategy.

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[Originally posted by WRALTechWire — April 23, 2020]