Healthcare Industry News: drug-eluting stent
News Release - September 14, 2010
Tryton Completes $20 Million Financing to Accelerate U.S. Pivotal TrialStrong Support From Current Investors and New Investor Arnerich Massena & Associates
DURHAM, N.C.--(Healthcare Sales & Marketing Network)--Tryton Medical, Inc., the leading developer of stents designed to treat bifurcation lesions, today announced that the company has closed a $20 million Series D round of financing. Current investors PTV Sciences, RiverVest Venture Partners and Spray Venture Partners continue to provide strong support to the company. The financing was lead by private healthcare investor Arnerich Massena. Russell J. Rottiers from Arnerich Massena has been appointed to the Tryton Board of Directors.
“We are pleased to welcome Arnerich Massena to our distinguished investor group,” said J. Greg Davis, president and CEO of Tryton Medical. “This Series D financing enables us to conduct our U.S. pivotal trial and drive product adoption internationally.”
Tony Arnerich, CEO of Arnerich Massena, stated, “We are excited to invest in Tryton and believe the Side Branch stent represents a truly elegant solution to a difficult clinical problem in interventional cardiology. With more than 2,000 implants, Tryton has established its Side Branch stent as the leading solution for these challenging cases.”
The Tryton Side Branch Stent System is designed to offer a dedicated strategy for treating atherosclerotic lesions in the side branch at the site of a bifurcation. Tryton’s highly deliverable balloon-expandable cobalt chromium stent is deployed in the side branch artery using a standard single-wire stent delivery system. A conventional drug-eluting stent is then placed in the main vessel.
The Tryton Side Branch Stent System demonstrated excellent six-month clinical and angiographic results in a first-in-man study of the system and excellent six-month clinical results from almost 200 patients in four different registries with a rate of target lesion revascularization of less than four percent.
The stent system has received CE Mark approval in Europe and is commercially available in 21 countries throughout Europe and the Middle East. It is not approved in the United States.
About Tryton Medical, Inc.
Tryton Medical, Inc., located in Durham, N.C., is a leading developer of novel stent systems for the treatment of bifurcation lesions. The Tryton Side Branch Stent System, approved for sale in Europe, is designed to offer a dedicated strategy for treating these challenging cases. Privately held, Tryton is backed by Arnerich Massena & Associates, Spray Ventures, PTV Sciences, and RiverVest Ventures. For more information please visit www.trytonmedical.com.
About Arnerich Massena & Associates
Founded in 1991, Arnerich Massena (www.am-a.com) is a West Coast-based independent investment advisory firm that offers services to corporations, institutions, state and local governments, charitable organizations, trusts and estates, corporate pension and profit sharing plans, and private clients. Arnerich Massena advises to more than $14 billion in assets.
About PTV Sciences
PTV Sciences (www.ptvsciences.com), founded in 2003, is a healthcare venture capital and growth equity firm focused on building industry leading companies and investing in extraordinary people. PTV Sciences has a team of investment professionals and 16 venture partners representing the leading clinicians, scientists, academic institutions, and entrepreneurs. PTV Sciences has offices in Austin and Houston, TX.
About RiverVest Venture Partners
RiverVest Venture Partners (www.rivervest.com) is a venture capital firm investing in emerging medical device, biopharmaceutical and other healthcare venture opportunities. RiverVest applies both its capital and its team's diverse range of expertise to create and grow successful enterprises that address unmet medical needs in major markets.
About Spray Venture Partners
Since 1996, Spray (www.spraypartners.com) has provided capital and management experience to the formation, financing, and strategic growth of many early-stage medical technology companies throughout the United States. The firm works closely with clinical and technical founders to create companies that develop, market and deploy innovative technologies that meet significant unmet healthcare needs.
Source: Tryton Medical
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