Cagent Vascular, a Wayne, PA-based commercial stage medical device company, raised $30M in Series C funding.
The round was led by Venture Partners, with participation from new investors Blue Ridge Medical, and existing investors including Sectoral Asset Management.
The company intends to use the funds to accelerate US market adoption and to expand the product portfolio of serration angioplasty technology.
Led by CEO Carol A. Burns, Cagent Vascular specilaizes in Serration Technology to treat peripheral artery disease. The Serranator PTA Serration Balloon Catheter (Serranator) has three embedded serrated elements designed to modify the plaque by creating linear, interrupted scoring along the endoluminal surface to aid arterial expansion.
The Serranator has received FDA 510k Clearance and is intended for dilatation of lesions in the iliac, femoral, iliofemoral, popliteal and infrapopliteal arteries for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae. The product is currently being sold in the US. The Serranator device also has CE Mark and limited distribution in Europe.
Commenting on the news, Carol A. Burns said: “We are pleased with the significant investment from U.S. Venture Partners and other new and existing investors. To date, we estimate that over 10,000 Serranator PTA Serration Balloon Catheters (Serranator) have been used to treat those suffering from Peripheral Artery Disease (PAD). This infusion of capital will increase our commercial reach, helping to provide greater access for healthcare providers and their patients.”
FinSMEs
21/02/2024