Conformal Medical Announces $35M Series D Led by SPRIG
Gunderson Dettmer represented client Conformal Medical, a medical device company, in its $35 million Series D financing led by SPRIG Equity. Conformal Medical is developing next-generation left atrial appendage occlusion (LAAO) technology devices to prevent stroke in patients with non-valvular Afib.
The new capital supports the initiation of the CONFORM Clinical Trial. The CONFORM Trial is the company's pivotal trial evaluating the safety and efficacy of the CLAAS® System compared to other commercially available LAAO devices and will support U.S. Food and Drug Administration (FDA) pre-market approval.
In the announcement of the transaction, Conformal CEO James Reinstein said, "Conformal Medical is committed to bringing the innovative CLAAS System to the large and rapidly growing LAAO market in the United States. The Series D funding provides us the resources to complete enrollment in the CONFORM trial, drive iterative development projects, and broaden the clinical experience of the CLAAS System in expanded geographies. We are thrilled with the ongoing support of our investors and welcome SPRIG Equity in recognizing the significant market opportunity and the potential advantages our system can provide."
The Gunderson Dettmer deal team was led by Jay Hachigian and Vanessa Smith and included Alexandra Noymer and Chris Sundquist.