Arkis BioSciences lands $3m Series A for neurosurgery tools

Arkis BioSciences said today that it raised a $3.4 million Series A round for its line of neurosurgical tools, led by Innova Memphis.

Angel Capital Group, the Lighthouse Fund and private investors also participated, Knoxville, Tenn.-based Arkis said. The proceeds are earmarked for further commercialization of its tunneling guidewire and Auto Shunt devices, plus the forthcoming launch of the Entrexo anti-thrombogenic ventricular catheter it licensed from AngioDynamics (NSDQ:ANGO), the company said.

“The success of this financing round underscores the confidence in Arkis’ solutions to address the longstanding underserved needs of the market and the value of our strategy,” CEO Chad Seaver said in prepared remarks. “Arkis’ next generation Endexo lumens and streamlined surgical instrumentation are just the beginning of a pipeline of R&D innovations backed by strong investor support, positioning Arkis to become the clear innovator in patient care and provider efficiency in our market.”

“Arkis BioSciences represents best-in-class technology truly addressing the needs of both provider and patient with a very experienced management team,” added Ken Woody of Innova Memphis. “We are pleased to take part in this financing round. The company plans to attack the inefficiencies found in current treatments plaguing healthcare providers and patients alike. In our view, Arkis’ solutions will enhance patient care, reduce readmissions, and streamline surgeries to address the high demands expected of modern healthcare.”

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