InterShunt Raises Equity Financing to Support PAS-C System Development

January 11, 2021—InterShunt Technologies, Inc., an early stage medical device company, announced the completion of an equity financing. The funds will support the research and development of the company’s PAS-C system, a catheter-based percutaneous atrial shunt catheter system to reduce left atrial pressure in heart failure patients. The round was led by Solas BioVentures with participation from Arsenal Capital Management and a select group of industry executives.

InterShunt stated that the PAS-C system allows for the capture and excision of tissue from the interatrial septum. The result is a left to right atrial shunt that off-loads elevated left atrial pressure, reducing symptoms in heart failure patients. The mechanical system is designed for safety and ease of use and is the only interatrial shunting device that requires no implant and no energy.

Solas BioVentures, headquartered in Chattanooga, Tennessee, invests exclusively in the life science industry, focusing primarily on early and development stage biotech and medtech companies. Arsenal Capital Management is a venture capital firm based in St. Louis, Missouri.

David Adair, MD, Managing Partner of Solas BioVentures, commented in the announcement, “InterShunt’s innovative and differentiated approach to create an interatrial shunt has the potential to provide significant clinical benefit in a space that has limited options. The ability to create a shunt without energy or hardware is attractive. Leaving nothing behind allows the body the best chance at superb outcomes. We seek out opportunities like InterShunt that use exquisite solutions based on physiology to help relieve human suffering. We are thrilled to lead this round in support of a company with such outstanding tech and industry legends.”