Tryton Medical, Inc., a Durham, N.C.-based developer of stents designed to treat bifurcation lesions, held an initial closing of an aggregate $24m financing.
Backers included existing investors PTV Sciences, which led the round, RiverVest Venture Partners, Spray Venture Partners, and the 3×5 Special Opportunity Fund.
The company intends to use the funds to support its U.S. Food and Drug Administration (FDA) submission this year, to expand its platform portfolio with a new stent system designed to address left main disease, and to accelerate access into critical global markets, specifically in Asia.
Founded in 2003 by Aaron V. Kaplan, M.D. (professor of medicine at Dartmouth Medical School/Dartmouth-Hitchcock Medical Center) and Dan Cole, and led by Shawn P. McCarthy, president and CEO, Tryton Medical leverages its proprietary Tri-zone™ technology to develop novel stent systems for the treatment of bifurcation lesions using . The company’s cobalt chromium stent is deployed in the side branch artery using a standard single-wire balloon-expandable stent delivery system. A conventional drug-eluting stent is then placed in the main vessel. The stent system has received CE Mark and is commercially available throughout Europe, Russia and the Middle East.
It is approved in the United States for investigational use only.
FinSMEs
08/01/2013