TriVascular, Inc., a Santa Rosa, CA-based has developed design and manufacturing technologies for endovascular aortic repair (EVAR), closed a $40m Series E equity financing.
Backers included existing investors New Enterprise Associates, Delphi Ventures, MPM Capital, Kearny Venture Partners, Kaiser Permanente Ventures and the Redmile Group and new investors Deerfield Management, Rock Springs Capital and Permal Asset Management.
The company intends to use the funds to expand commercial efforts worldwide and to accelerate product pipeline and clinical research activities.
Led by Christopher G. Chavez, Chairman and CEO, TriVascular has developed the Ovation and Ovation Prime platforms, which are designed to expand the on-label patient population suitable for EVAR. In October 2012, the U.S. FDA granted PMA approval for the Ovation system, which received CE Mark clearance in August 2010.
It is approved for sale in over 30 countries with approximately 2700 patients treated to date.