IDEV Technologies, Inc., a Webster, Texas-based developer and provider of minimally invasive medical technologies for use in the interventional radiology, vascular surgery and cardiology marketplace, has completed a $46m Series D round of financing.
Investors include Piper Jaffray & Co.’s Merchant Banking Fund, PJC Capital LLC, and a strategic global healthcare company.
The financing also included strong support and additional investment from existing venture capital firms PTV Sciences, Bay City Capital, RiverVest Venture Partners and Heron Capital.
The new capital will be used to fund the multi-center IDE superficial femoral artery clinical trial for the company’s self-expanding SUPERA® stent, new clinical trials in support of other peripheral artery indications, the development of new interventional products, and sales and marketing initiatives to support continued revenue growth.
The SUPERA stent is currently indicated in the US for the palliative treatment of biliary strictures produced by malignant neoplasms and in Europe for both the treatments of biliary strictures produced by malignant neoplasms and for peripheral vascular use following failed percutaneous transluminal angioplasty (PTA).
In addition, IDEV recently launched in Europe its SUPERA VERITAS™ Peripheral Vascular System, a precise stent delivery system developed to deliver the SUPERA stent.
The company operates in Europe, through an office located in Beuningen, The Netherlands.