Tryton Medical, Inc., a Durham, N.C.-based developer of stents designed to treat coronary bifurcation lesions, held an initial closing of an aggregate $20m private equity financing.
Backers included existing investors RiverVest Venture Partners and 3×5 Special Opportunity Fund, new investor Canepa Advanced Healthcare Fund and an unnamed investor. In conjunction with the funding, Alejandro Sanchez from Canepa U.S., which serves as Investment Advisor to Canepa Advanced Healthcare Fund, will be joining Tryton Medical’s Board of Directors.
The company intends to use the funds to complete enrollment in the Tryton IDE Extended Access Registry and to support its U.S. Food and Drug Administration (FDA) submission.
Led by Shawn P. McCarthy, President & CEO, Tryton Medical develops stents that are designed to treat coronary bifurcation lesions. Its Tryton Side Branch Stent is deployed in the side branch artery using a standard single wire balloon-expandable stent delivery system. A conventional drug eluting stent is then placed in the main vessel.
It is commercially available in multiple countries within Europe, Middle East & Africa, is investigational in the US, and is not available in Japan.