- New and existing investors complete a $17.3 million Series C investment
- Experienced medical device executive, Dr. Art Rosenthal, appointed as CEO
- Aggressive launch of Sideguard(TM) Sidebranch stent in EU following recent CE Marking
- Expansion of management team, R&D and manufacturing capacity in Galway, Ireland
WILMINGTON, Del. and GALWAY, Ireland, June 15 /PRNewswire/ -- Cappella, Inc. (Cappella) announces today that it has completed a $17.3 million Series C investment, led by new investors, Fountain Healthcare Partners and Mitsui & Co. Venture Partners (MCVP). Enterprise Ireland also participated in this round alongside Cappella's existing investors, Polytechnos Partners and ACT Venture Capital.
Proceeds will be used to finance the launch of Cappella's proprietary Sideguard(TM) Sidebranch stent for the treatment of Bifurcated Vascular Disease in Europe and to advance key R&D programs in Galway on additional applications of Cappella's technology in Complex Coronary Artery Disease (CAD).
Commenting on this financing, Dr. Art Rosenthal, Cappella's recently appointed CEO, said "This funding will allow us to expand our pipeline, to supplement on-going clinical studies and to successfully launch our first product, the Sideguard(TM) Sidebranch stent. We believe our proprietary products will treat many types of bifurcation disease, including Left Main Bifurcation Disease. In 2008, this was a $1.0 billion worldwide market and it is growing annually."
Dr Rosenthal previously served as Chairman and CEO of Labcoat Ltd. and as Chief Scientific Officer of Boston Scientific Corporation. Cappella has also appointed additional senior management to lead European sales and manufacturing activities.
Dr Ena Prosser of Fountain Healthcare Partners commented: "We are delighted to invest in Cappella at a very strategi
|SOURCE Cappella, Inc.|
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