Cappella, Inc., a Dover, Del.- and Galway, Ireland-based medical device company that is developing novel solutions for the treatment of Complex Coronary Artery Disease (CAD) and specifically bifurcation vascular disease, has completed the first tranche of a €10.5m Series D equity and debt financing.
Equity investors include existing backers Polytechnos Partners, ACT Venture Capital, Fountain Healthcare Partners, Mitsui & Co. Venture Partners (MCVP). Venture debt financing was provided by Kreos Capital Limited and Silicon Valley Bank, the commercial banking division of SVB Financial Group (Nasdaq: SIVB).
The proceeds will be used to finance the expanded launch of the company’s initial product, the Sideguard™ Sidebranch stent for the treatment of Bifurcated Vascular Disease in Europe and South America, provide additional manufacturing capacity and advance key R&D programs in Galway on additional applications of Cappella’s technology in Complex Coronary Artery Disease (CAD).
Commenting on this financing, Dr. Art Rosenthal, Cappella’s CEO, said “This funding will allow us to expand our direct Sales and Distribution network, expand our product pipeline, provide an additional 7,500 sq. ft. facility for manufacturing capacity and additional R&D laboratory space for our development programs.
The company was founded in 2004 by Antonio Columbo, M.D., Chief of Invasive Cardiology at San Raffaele Hospital in Milan, Italy, and Ascher Shmulewitz, M.D., Ph.D., a cardiologist, medical device entrepreneur and founder of NeoVision, Xcardia and Labcoat Ltd., and established its European headquarters in Galway in 2005.