Versa Vascular Extends Series C Funding to $42 Million
Versa Vascular, a company based in Minneapolis, Minnesota, specializing in minimally invasive devices for treating severe tricuspid regurgitation, has successfully secured $42 million in a Series C extension round. The funding round, which closed on August 11, 2026, saw participation from S3 Ventures and BioStar Capital.
Leadership Changes
Alongside this funding announcement, Versa Vascular has appointed Bill Shields as the new Chief Executive Officer. Shields brings extensive experience in transcatheter therapies, having previously worked with Medtronic's structural heart division. He succeeds David Hovda, who will remain with the company in an advisory capacity. Shields expressed his optimism about joining the company, stating, "I am thrilled to join Versa Vascular at a time when we are seeing positive results clinically and receiving continued investor confidence."
Use of Funds
The $42 million capital infusion will be used to further develop Versa Vascular's AdapTR transcatheter tricuspid repair device. Specifically, the funds will support the completion of an ongoing first-in-human clinical study outside the U.S., preparation for a U.S. Early Feasibility Study, and additional product development and optimization.
Investor Confidence
S3 Ventures and BioStar Capital continue to support Versa Vascular's vision of improving patient outcomes for those with tricuspid disease. Brian R. Smith, Founder and Managing Director of S3 Ventures, commented on their continued support, "We strongly believe in Versa’s vision to improve the lives of patients with tricuspid disease."
With this latest funding round, Versa Vascular is well-positioned to expand its clinical research and bring its innovative device closer to market. The company's focus on minimally invasive solutions aims to address significant unmet needs in the treatment of tricuspid regurgitation.