Imperial Innovations puts £2.5M into spin-out Veryan

Investment

Imperial Innovations, the AIM quoted technology commercialisation and investment company based at Imperial College London, UK, has invested £2.5 million in Veryan Holdings. The company is developing novel stent technology to make help make blood flow in a swirling motion, which in turn helps protect the body from clogging blood vessels and fatty deposits.

The new funding will take Veryan through its First In Man study, to take place later in 2009. This study will evaluate the clinical performance attributes of the Veryan 3D stent technology and, if successful, will represent a significant milestone in Veryan’s progress.

Veryan was founded to commercialise research carried out by Professor Colin Caro at Imperial College London that showed that the cardiovascular circulatory system has natural 3D geometry. This geometry generates swirling blood flow which helps protect the body from vascular disease, particularly atherosclerosis (clogging of blood vessels with fatty deposits) in healthy vessels and restenosis (similar, but caused by the body’s response to the introduction of a foreign body) in stented blood vessels.

Veryan’s technology is based on the idea that establishing 3D geometry in a graft or stent also creates swirling blood flow. The Veryan 3D technology involves imposing a 3-dimensional helical (spiral) shape onto a traditional straight stent. In addition to the reduction of restenosis, Veryan says that the 3D geometry confers significant mechanical benefits. The 3D stents are more flexible, kink-resistant and fracture-resistant than straight stents, says Veryan.

Veryan’s development work to date is targeted towards the peripheral vascular system. Initially the superficial femoral artery (in the leg) has been chosen as the first application for a 3D helical stent.

The peripheral market is experiencing rapid growth as a result of new technology and expanding indications for which stents could be used. The worldwide market potential for peripheral stents is over $1 billion.

Susan Searle, Chief Executive of Imperial Innovations, commented, “Imperial Innovations continues to take the lead in supporting Veryan, one of our core portfolio companies. We are in the enviable position of having the cash resources, infrastructure and people needed to turn science into value. Our further investment in Veryan today takes it a step closer to market.”

Chas Taylor, Chief Executive of Veryan, also commented, “We would like to thank Imperial Innovations for their continued support of Veryan. The technology development pathway has been impressive to date and we are confident that Veryan technology has the potential to significantly influence the design of future stent platforms. The commencement of human clinical studies is a critical milestone for Veryan.”