NEWTON, Mass., March 31 /PRNewswire/ -- Tryton Medical, Inc., the leading developer of stents designed for the definitive treatment of bifurcation lesions announced today that it has closed a $14 million Series C round of financing. Two new investors, PTV Sciences and RiverVest Venture Partners joined with Spray Venture Partners in the financing. Rick Anderson from PTV and Jay Schmelter from RiverVest have been appointed to the Tryton Board of Directors.
"Bifurcation lesions are an important opportunity in the stent marketplace. We have reviewed all the technology approaches in development. The ease-of-use, superb clinical results, and commercialization strategy, position's Tryton to make a real impact on this important clinical need", said Rick Anderson, Managing Director of PTV Sciences, and former Company Group Chairman, Cordis Corporation.
"We are very pleased to have completed this financing with the addition of PTV and RiverVest," stated Dan Cole, Co-Founder and Board Member of Tryton and General Partner of Spray Venture Partners. "This capital will allow Tryton to advance its leadership position with aggressive execution of its European commercialization strategy and clinical trial plans in the U.S."
The Tryton Side-Branch Stent is a high-performance cobalt chromium
balloon expandable stent, which marries with approved drug eluting stents
to definitively treat the entire spectrum of coronary artery bifurcation
lesions. Bifurcation lesions account for approximately 20% of 2.2 million
angioplasty procedures performed each year. Results from the Tryton I
(First-In-Man) Study demonstrated Tryton's ease of use and unprecedented
long term results (3% Target Lesion Revascularization, Side Branch Late
Loss 0.12 plus or minus 0.47 mm and NO side branch failures). Based on the
strength of these results, Tryton recently received CE mark, establishing
its leadership position with the first stent commercially available for
|SOURCE Tryton Medical, Inc.|
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