TriVascular, Inc., a Santa Rosa, California-based company focused on providing optimal solutions for endovascular aortic repair (EVAR), closed $60m in funding, comprised of a Series C equity financing and growth capital venture debt.
This round, which follows a $30m series B funding raised in November 2009 was led by new investor Pinnacle Ventures, with participation from existing investors New Enterprise Associates (NEA), Delphi Ventures, MPM Capital and Kearny Venture Partners.
In conjunction with the fiancing, David J. Kim, M.D., Partner at Pinnacle Ventures, and Ryan Drant, General Partner at NEA, will join the company’s board of directors.
The new capital will be used to launch the company’s OvationTM Abdominal Stent Graft System in Europe, drive clinical research activity across three continents, and accelerate next generation product development. The OvationTM Abdominal Stent Graft System is designed to expand the patient population suitable for endovascular aortic repair (EVAR) by addressing a wider range of diseased anatomy. It is an investigational device and currently not approved for sale.
The company is also completing a clinical study in Germany and has begun its pivotal study in the United States. Clinical activity is also underway for the OvationTM Thoracic Stent Graft System.