PA-based Cagent Vascular secures $30million in series C round funding. The financing was headed by USVP Venture Partners. Participating investors included Sectoral Asset Management as well as newcomer Blue Ridge Medical, LLC.
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Carol A. Burns, CEO 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,”.
Casey Tansey, General Partner, US Venture Partners said, USVP is a leading Silicon Valley venture capital firm in Menlo Park, CA. “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,”.
About Cagent Vascular
To treat peripheral artery disease (PAD) and chronic limb-threatening ischemia (CLTI), Cagent Vascular (Wayne, PA) has created and commercialised a revolutionary angioplasty balloon incorporating serration technology. The first and only angioplasty balloon using serration technology is the Serranator PTA Serration Balloon Catheter.
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