Silk Road Medical Receives up to $57M in Equity and Debt Funding

Silk Road MedicalSilk Road Medical, a Sunnyvale, CA-based developer of novel surgical technologies to prevent stroke, received up to $57m in equity and debt funding.

CRG, a healthcare investment firm and a new investor in Silk Road Medical, led the debt financing and also participated as an equity investor alongside returning investors Warburg Pincus and The Vertical Group.

The company will use the funds to continue a controlled U.S. commercial introduction of the ENROUTE Transcarotid NPS and Stent system begun earlier this year, expand the clinical evidence base for TCAR in a large registry called ROADSTER2, and begin international expansion.

Led by Erica Rogers, Chief Executive Officer, Silk Road Medical develops and manufactures less-invasive medical devices intended to improve the treatment of carotid artery disease through proprietary transcarotid therapies. The company is advancing the ENROUTE® Transcarotid Neuroprotection System (NPS) and ENROUTE® Transcarotid Stent System, both approved for use in TransCarotid Artery Revascularization (TCAR), a new procedure designed to reduce the risk of strokes.
TCAR combines the surgical principles of protecting the brain with minimally invasive endovascular techniques to treat carotid artery blockages in the neck which are often the cause of devastating strokes in the brain.

FinSMEs

20/10/2015

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