Stentys finds funds for bifurcation stent development
Stentys has completed an $18 million Series B round of venture financing to help finish clinical trials and obtain CE Mark for its drug-eluting, bifurcated stent.
The lead investor was U.K. venture capitalist firm Scottish Equity Partners, and the Series A investor Sofinnova Partners also participated in the B round, according to the Paris-based company.
Brian Kerr, one of the founding directors of Scottish Equity Partners and a partner in the firm's healthcare group, will join the Stentys board of directors, the company said.
“Stentys has achieved a major breakthrough in terms of patient safety, ease of use for cardiologists, and clinical efficacy,” said Kerr. “It has a high-caliber management team, and it has made rapid progress towards obtaining regulatory approval. There is a $1 billion-plus market opportunity for its product, and we are confident that the company will deliver significant value.”
The lead investor was U.K. venture capitalist firm Scottish Equity Partners, and the Series A investor Sofinnova Partners also participated in the B round, according to the Paris-based company.
Brian Kerr, one of the founding directors of Scottish Equity Partners and a partner in the firm's healthcare group, will join the Stentys board of directors, the company said.
“Stentys has achieved a major breakthrough in terms of patient safety, ease of use for cardiologists, and clinical efficacy,” said Kerr. “It has a high-caliber management team, and it has made rapid progress towards obtaining regulatory approval. There is a $1 billion-plus market opportunity for its product, and we are confident that the company will deliver significant value.”