Haynes and Boone, LLP Partner Roger Royse, Counsel Francine Johnston, and Attorney Gabor Szecsi represented Efemoral Medical, developer of advanced interventional bioresorbable therapies, in the closing of its $4.9M preferred Series A1 round.
The financing closed on Jan. 17, 2023. Supported by existing investors as well as an experienced cohort of new investors, the proceeds will further Efemoral's device development and expand enrollment in its ongoing first-in-human clinical trial, EFEMORAL I.
The Efemoral Vascular Scaffold System (EVSS) with FlexStep Technology offers a new approach to treating peripheral arterial disease (PAD) by addressing the specific anatomical challenges and complex biomechanics of patients with athero-occlusive disease in the leg. PAD, also known as "poor circulation" or "hardening of the arteries," is a global plague.
"The initial clinical experience in EFEMORAL I has demonstrated that the EVSS has the potential to be a highly effective treatment for femoro-popliteal disease," Christopher Haig, Co-Founder and CEO of Efemoral Medical said in a statement announcing the financing. "This new funding will allow us to build additional confidence in our device by taking it to multiple hospitals and enrolling more patients.”
Szecsi is a Palo Alto-based member of Haynes Boone’s Capital Markets and Securities Practice Group. His practice focuses on general corporate law, commercial contracts and emerging growth companies, and mergers and acquisitions. Gabor also advises investors and funds on fund formation and federal and state regulatory compliance.
Haynes and Boone, LLP is an international corporate law firm with 18 offices spanning Texas, New York, California, Charlotte, Chicago, Denver, Washington, D.C., London, Mexico City and Shanghai, providing a full spectrum of legal services in energy, technology, financial services and private equity. With 600 lawyers, Haynes Boone is ranked among the largest U.S.-based firms by The National Law Journal, The American Lawyer and The Lawyer. It was recognized in the BTI Consulting Group’s 2022 “A-Team” report, which identifies the law firms that in-house counsel commend for providing superior client service.
