Fox Rothschild LLP Partner Kevin M. Granahan represented VESTECK, Inc., an early stage medical device company focused on bringing its proprietary technology to the aortic repair, structural heart and GI markets, in the closing of its $4.3M Series A Preferred equity round, which included the conversion all existing convertible debt to preferred equity.

VESTECK designed a platform technology comprised of six devices that integrate the delivery of nitinol sutures into a catheter to improve clinical outcomes for endovascular aortic aneurysm patients. VESTECK expects to bring significant incremental revenue to an aortic repair market projected to be $4.5B by 2028. 

The New World Angels (www.newworldangels.com) of S. Florida, led the Series A round with a $1.1 million investment. They were joined by Florida-based DeepWork Capital and Ocean Azul Partners, as well as a number of Philadelphia-based investors, including Ben Franklin Fund Technology Fund of Southeastern Pennsylvania, the Delaware Crossing Investor Group and Robin Hood Ventures. The Series A funds will support the manufacturing of products, pre-clinical testing and completion of in human procedures. 

VESTECK CEO Joe Rafferty stated, “We are truly honored that a consortium of such distinguished early-stage investors led by New World Angels believe in our plan, our team and our technology.  We are committed to proving their trust in us was accurate by helping solve this significant unmet need.”

Granahan has significant experience advising clients on mergers and acquisitions, private equity matters and venture capital transactions. In particular, he provides general corporate counsel services to startup, emerging growth and middle market companies in the areas of intellectual property transfer, technology, securities, executive employment and tax matters.