Svelte Medical Systems, a New Providence, New Jersey-based developer of highly deliverable balloon expandable stents, closes $22m funding.
The round, which brought the total amount raised to date to approximately $65m, was led by CNF Investments and New Science Ventures.
The company intends to use the funds to complete the DIRECT II study, prepare for commercialization of the Svelte drug-eluting coronary stent Integrated Delivery System (IDS) and Rapid-Exchange (RX) platforms in Europe and expand overall operational infrastructure.
Founded in 2007 and led by Jack Darby, President and CEO, Svelte Medical Systems, Svelte Medical Systems plans to commercialize two
drug-eluting coronary stent platforms:
– a fixed-wire Integrated Delivery System (IDS) which navigates the vasculature similar to a traditional guidewire, and
– a conventional catheter-based rapid-exchange system.