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Inceptus Announces IPO Of First Portfolio Company

Medical device incubator's first company closes upsized initial public offering

ALISO VIEJO, Calif., June 2, 2020 /PRNewswire/ -- Inceptus Medical LLC, a medical device company incubator, announced today the closing of the initial public offering for its first portfolio company, Inari Medical, Inc.

(PRNewsfoto/Okami Medical Inc.)
(PRNewsfoto/Okami Medical Inc.)

Inari Medical, a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases, closed its initial public offering on Wednesday, May 27, 2020. The gross proceeds to Inari Medical from the offering were approximately $179.2 million, including full exercise of the underwriters' option to purchase additional shares. Inari's common stock is listed on the Nasdaq Global Select Market under the symbol "NARI."

Inari was spun out of Inceptus in 2013.  "We are extremely proud of Inari Medical.  This tremendous event is a testament to Inari Medical's extraordinary dedication, vision and leadership.  Inari Medical's IPO marks an exciting milestone for Inceptus, where our mission is to create and foster innovative concepts into successful companies," said Bob Rosenbluth, President of Inceptus.  "Speaking for the entire Inceptus team, it brings us great satisfaction as MedTech entrepreneurs to see the fulfillment of our vision for improved care of patients with pulmonary embolism and deep vein thrombosis."

Okami Medical Inc., the second portfolio company of Inceptus, recently began commercializing its LOBOTM Vascular Occlusion System.  The LOBO system is uniquely designed to provide interventional physicians with a single-device, "one-and-done" solution for the occlusion of a wide range of arterial targets without the need for multiple embolic devices.  The advanced technology platform enables the fast and efficient closure of blood vessels throughout the body for the successful treatment of a diverse set of conditions.  The LOBO system is 510(k)-cleared by the FDA for the occlusion of peripheral arteries.

About Inceptus Medical
Inceptus was founded in 2011 as a medical device company incubator with a mission to create and foster innovative concepts into successful companies by providing a combination of experienced engineering, clinical research expertise, seasoned leadership and strong financial resources.  The Inceptus team includes talented medical device engineers, serial entrepreneurs, executive managers and investors with a successful track record in the formation of medical device companies. Inceptus works closely with outside clinicians and inventors with promising ideas.

For more information, visit the company's website at inceptusmedical.com.



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SOURCE Inceptus Medical, LLC