Averto Medical Debuts with Oversubscribed $30M Series A Financing to Advance Innovative Medical Device that Avoids Need for Ostomy
Cormorant Asset Management led the financing with participation from Venrock Healthcare Capital Partners, LifeSci Venture Partners, CVF, and other investors.
- Cormorant Asset Management led the financing with participation from Venrock Healthcare Capital Partners, LifeSci Venture Partners, CVF, and other investors.
- The financing will support advancing Averto Medical's clinical testing of the ColoSeal™ Intraluminal Diversion System towards regulatory approvals.
- ColoSeal™ has the potential to help over 100,000 patients annually who undergo colorectal surgeries by avoiding the need to create an invasive temporary diverting ostomy.
- "Averto Medical is developing a medical device to avoid the need for ostomy, which is a debilitating procedure," said Dr. Song.