Silk Road Medical Raises $47M in Financing

Silk Road Medical, Inc., a Sunnyvale, CA-based company dedicated to treating stroke through surgical innovation, received $47m in funding.

The round was led by new investors Norwest Venture Partners and funds managed by Janus Capital Management LLC, with participation from existing investors Warburg Pincus, The Vertical Group, and CRG. As part of the financing, Dr. Robert Mittendorff, a partner at Norwest Venture Partners, will join Silk’s board of directors.

The company intends to use the funds for the commercial growth of its proprietary ENROUTE family of products for TransCarotid Artery Revascularization (TCAR) procedures.

Led by Erica Rogers, CEO, Silk Road Medical develops and manufactures less-invasive medical devices intended to improve the treatment of carotid artery disease through proprietary transcarotid therapies. It provides the ENROUTEĀ® Neuroprotection System (NPS), which allows the physician to directly access the common carotid artery in the neck and initiate high rate temporary blood flow reversal to protect the brain from stroke while delivering and implanting Silk Road’s ENROUTEĀ® Transcarotid Stent.
The ENROUTE NPS and Stent are currently the only two devices U.S. Food and Drug Administration (FDA) cleared, approved and indicated for use in transcarotid procedures. To date, more than 2,000 TCAR procedures have been performed worldwide.

FinSMEs

18/07/2017

 

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