Veniti

Veniti was a medical device company focused on developing and commercializing treatments for venous disease. Founded in 2009 by Sean Morris, the company aimed to address the specific challenges of the venous anatomy, which differs significantly from the arterial system. Before Veniti, many physicians used repurposed arterial stents for venous conditions.

The company's flagship product was the VICI Venous Stent System, a self-expanding nitinol stent designed to treat venous obstructive disease, a condition affecting over 1.1 million people annually in the U.S. and Western Europe. This condition, often caused by deep vein thrombosis or May-Thurner syndrome, can lead to pain, swelling, and reduced quality of life. The VICI stent was engineered to withstand the compression and forces unique to the venous system while maintaining flexibility. The product received its CE Mark in Europe in 2013, with the first patient treatments in the EU occurring in early 2014. In July 2014, Veniti received an Investigational Device Exemption (IDE) from the U.S. FDA to begin the VIRTUS trial to evaluate the stent's safety and efficacy.

Boston Scientific became a key partner, first investing $25 million in 2016 which gave them a 25% stake in the company and helped fund the VIRTUS trial. This was followed by a limited global distribution agreement for the VICI stent in 2017. In August 2018, Boston Scientific announced it would acquire the remaining 75% of Veniti for $108 million in cash, with up to $52 million in additional milestone payments contingent on the VICI stent system's FDA approval. At the time of the acquisition, there were no stent technologies specifically indicated for use in the peripheral venous system in the U.S.

Keywords: venous obstructive disease, venous stent, medical device, VICI Venous Stent, nitinol stent, deep vein thrombosis, May-Thurner syndrome, endovascular, Boston Scientific, vascular surgery