Singapore-based August Global Partners has led a $10-million financing for California-based medical device company Shape Memory Medical, backing the company’s clinical development of technologies aimed at treating aortic disease.
The financing, structured as a convertible note, also includes new investor Taiwania Capital, according to a statement. Existing investors include HBM Healthcare Investments, Earlybird Venture Capital, and WexMed II.
Shape Memory Medical develops endovascular embolisation devices using proprietary shape memory polymer technology. The company said the new funding will support patient follow-up and data collection for its AAA-SHAPE pivotal trial and advance its FLAGSHIP feasibility study.
The AAA-SHAPE trial is evaluating the company’s IMPEDE-FX RapidFill device alongside endovascular aneurysm repair in patients with abdominal aortic aneurysms. Enrollment has been completed, with patients expected to be followed for five years. FLAGSHIP is a first-in-human study of an investigational system designed to treat the false lumen associated with aortic dissection.
The investment comes as Shape Memory Medical moves towards generating clinical data for its aortic portfolio, potentially broadening the application of its polymer technology beyond its existing embolisation products.
“For decades, clinicians treating aortic aneurysms and dissections have relied on materials repurposed from other procedures,” Davian Sim, a partner at August Global Partners, said in a statement. He said the company was at an “inflection point” as the two clinical programmez advance.
August Global Partners, a Singapore-based independent fund manager focused on healthcare and advanced manufacturing, said the investment will also support Shape Memory Medical’s expansion in Asia-Pacific as its technology develops globally. The firm’s healthcare strategy focuses on areas including precision medicine, AI-enabled health technologies, and patient-centric care.
Shape Memory Medical said its products have received regulatory approvals in more than 40 countries and its technology has been used in more than 3,500 patients worldwide. Its IMPEDE and IMPEDE-FX product families have regulatory clearances in the US and Japan, while IMPEDE-FX RapidFill remains investigational in the US.
