TriVascular, Inc., a Santa Rosa, California-based company that provides solutions for endovascular aortic repair (EVAR), has secured $60m in Series D equity financing, the initial tranche of which closed on June 1st.
The round was led by new investor Kaiser Permanente Ventures, in partnership with the Redmile Group. They joined existing investors New Enterprise Associates, Delphi Ventures, MPM Capital, Kearny Venture Partners and Pinnacle Ventures.
In conjunction with the funding, Sam Brasch, Director at Kaiser Permanente Ventures, will join TriVascular’s Board of Directors.
The company intends to use the financing to pursue U.S. PMA approval of the Ovation Abdominal Stent Graft System (which offers physicians unique advantages when treating patients with abdominal aortic aneurysms), drive further sales expansion internationally, fuel product development efforts and initiate U.S. commercial activity.
TriVascular is les by Chairman and CEO Christopher G. Chavez.