News | June 30, 2009

Stentys Closes $22 Million in Financing to Obtain CE Mark for Stent Platform

June 30, 2009 - Stentys this week said it secured the second tranche of its series B financing, which will enable the company to obtain CE marking and begin European marketing of the first self-expanding stent platform for the treatment of myocardial infarction.

This second financing tranche from Sofinnova Partners and Scottish Equity partners (SEP), closing an additional $4.2 million investment from new investor Crédit Agricole Private Equity, brings the total B round financing to more than $22 million.

Treatment of acute myocardial infarction accounts for 50 percent of stent implantations worldwide, a $5 billion market. However, existing balloon expandable stents do not ensure optimal contact with the artery wall, and clotting can occur between the stent and the coronary wall and within the stent itself. Stentys’ self-expanding stent is constantly applied to the vessel surface and ensures immediate and permanent optimal apposition during thrombus and vessel spasm relief, therefore avoiding any malapposition and subsequent clotting.

Stentys has completed an initial 40 patient clinical trial demonstrating safety and efficacy of the stent.

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