Scottish Equity Partners (SEP) has led an $18 million (£9.1 million) Series B funding round for cardio vascular device specialist Stentys. The investment in the Paris-headquartered company was also supported by existing investor Sofinnova Partners.
Scottish Equity Partners has led an $18 million (£8.9 million) Series B funding round for cardio vascular device specialist Stentys. The investment in the Paris-headquartered company was also supported by existing investors Sofinnova Partners.
Stentys will use the funds to accelerate its progress towards attaining European regulatory approval for its device, which attempts to make treating patients with heart disease safer and more efficient.
Brian Kerr, a partner at SEP, will join Stentys’ board. He comments that the company has made rapid strides towards to obtaining regulatory approval and that ‘there is a $1 billion plus market opportunity for its product’.
According to Stentys, its device is aimed at treating bifurcated arteries (where one main vessel branches out into two). In up to 25 per cent of cases, patients with blocked bifurcated arteries suffer a recurrence when treated using conventional methods.