Cagent Vascular has announced a series C financing close in excess of US$30 million. US Venture Partners (USVP) led the round. Participation included new investor Blue Ridge Medical and existing investors, including Sectoral Asset Management.
“We are pleased with the significant investment from US Venture Partners and other new and existing investors. To date, we estimate that over 10,000 Serranator PTA [percutaneous transluminal angioplasty] serration balloon catheters (Serranator) have been used to treat those suffering from peripheral arterial disease (PAD). This infusion of capital will increase our commercial reach, helping to provide greater access for healthcare providers and their patients,” stated Carol A Burns, CEO.
USVP is a Silicon Valley venture capital firm based in Menlo Park, USA. “At US Venture Partners, we understand the challenges facing PAD patients and are keenly aware of the need for innovation for this vulnerable patient population. As we reviewed the impressive clinical data and spoke to physicians about their patient outcomes, it was clear that serration angioplasty is truly innovative. This was further underscored by the strong early commercial success driven by the exceptional team at Cagent Vascular,” said Casey Tansey, general partner, US Venture Partners.
A press release details that the Serranator has received US Food and Drug Administration (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 USA. The Serranator device also has CE mark and limited distribution in Europe.
