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Quaker, HIG lead $15.5m Intact Vascular financing

5 Sep 2012

Healthcare investment specialists Quaker Partners and HIG BioVentures have led a $15.5m financing round for medical device maker Intact Vascular.

The company, which makes products for minimally-invasive procedures in arteries furthest from the heart, said it would use the Series A funding to continue clinical studies for its anti-peripheral artery disease device.

HIG managing director Aaron Davidson and Quaker principal Wes Kaupinen have both been appointed to the board following the investment.

Angel investors also took part in the financing round.

The deal comes five months after HIG closed its BioVentures II fund on $268m, exceeding its $250m target.

According to the firm, the capital was raised entirely from limited partners specific to HIG BioVentures II, including a diverse group of top-tier global investors, including public and private pension funds, foundations, funds of funds, and large private family wealth managers.

In March Quaker took part in a $28m equity financing round in US drug company Tarsa Therapeutics led by Foresite Capital.

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