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Shape Memory Medical has secured $10 million in convertible note financing led by August Global Partners, with new investor Taiwania Capital and support from HEAL Venture Lab. The Santa Clara-based company will use the funds for patient follow-up and data collection in its AAA-SHAPE Pivotal Trial, and to advance its FLAGSHIP feasibility study.
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Enrollment in AAA-SHAPE, a randomized, multicenter trial comparing EVAR plus sac management using IMPEDE-FX RapidFill against standard EVAR alone, completed last month with 180 patients across 48 sites in the US, Europe, and New Zealand. Patients will now be followed for five years, with primary endpoints covering 30-day freedom from major adverse events and the proportion achieving meaningful aneurysm sac volume reduction. FLAGSHIP, a first-in-human study of an investigational false lumen embolization system for aortic dissection, is still enrolling patients and will track outcomes over two years.
For Shape Memory Medical, the raise builds on a platform already used in more than 3,500 patients across over 40 countries, and follows December 2025's CE mark for its IMPEDE plug range under the EU's MDR. For the broader MedTech space, it adds to sustained investor interest in aortic disease, an area where clinicians have long relied on materials adapted from other procedures rather than purpose-built devices.
CEO Ted Ruppel called the round a step into "a potentially transformative period for the company." August Global Partners' Davian Sim described the company as approaching an inflection point, with trial data ahead expected to inform how the platform is adopted.
