Local Tech Wire
DURHAM, N.C. – has closed on $20 million in a new round of venture funding.
On Monday, Tryton announced that it was launching its stent system in Switzerland, Sweden, Finland, Turkey, Hungary, Czech Republic, Slovakia and Latvia.
The company is still seeking regulatory approval in the U.S.
The new funding will be used for trials of the stent technology in the U.S. and for expansion overseas, Tryton said.
Made of cobalt chromium, the stent is deployed in side branch arteries through use of a balloon stent delivery system.
The Tryton stent is augmented by a drug-eluding stent in a main artery.
Arnerich Massena leads the fourth round of investment.
Here’s the funding announcement:
DURHAM, N.C.-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.
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