Interventional radiology technology startup Auxetics has raised $1.3 million in a seed financing round.
Auxetics said its technology is based on the fundamentals of venous biomechanics to develop venous stents. The firm was co-founded by interventional radiologists Dr. Ramsey Al-Hakim of Scripps Mercy Hospital in San Diego, Dr. John Kaufman of Oregon Health and Science University (OHSU), and Dr. Khashayar Farsad, PhD, also of OHSU. Al-Hakim is serving as chief scientific officer.
Of the $1.3 million, approximately $500,000 was raised from interventional radiologists and vascular surgeons. Auxetics will use the proceeds from the financing round to complete the design of the stent and delivery device. The first animal testing for the stent is expected to be conducted in late 2021, with results expected in early 2022, according to the Portland, OR-based company.
