Cagent Vascular Raises $11.87M to Fund the Growth and Expansion of the Serranator Family of Percutaneous Transluminal Angioplasty (PTA) Serration Balloon Catheters

Cagent Vascular®, a developer of next generation angioplasty
balloons using proprietary serration technology, announced the
completion of $11.87 million in Series B funding. The round was led by
two strategic investors including one that participated in the Series A
financing. Additional participants included Balestier Investments, Ben
Franklin Technology Partners1, Synergy Ventures, and other
private investors. Proceeds will be used to scale manufacturing and
initiate a limited launch of Cagent Vascular’s first product, the Serranator®
Alto. Further uses of proceeds include supporting development
efforts to build upon existing confirmatory data, expanding indications,
and receiving additional regulatory clearances. The next product in the Serranator
family of PTA serration balloon catheters will be the Serranator Bass,
for use in infrapopliteal arteries.

“The breadth and diversity of the investor base reflects an
understanding of the value proposition that this technology delivers,”
stated CEO, Carol A. Burns.

The Serranator® is an angioplasty device with serrated
metal strips embedded on a semi-compliant balloon. The Serranator’s
unique technology is designed to create multiple longitudinal lines of
interrupted micro-serrations within the luminal surface to aid in
arterial expansion. The result is predictable and controlled lumen gain.
The company’s first device, the Serranator Alto, performed well
in the above-the-knee PRELUDE study, especially in a subset of patients
with severe calcium. It received FDA 510(k) clearance and CE Marking in
2017 and is indicated for the treatment of diseased femoral and
popliteal arteries, dysfunctional AV access grafts and AV fistulae.

“The Serranator’s serration technology is unique in that it
combines an effective vessel dilatation technology with a
highly deliverable system on a single platform. In my experience, it is
quite effective in calcified or highly fibrotic lesions where balloon
angioplasty has historically fallen short,” explained Mahmood K. Razavi,
MD, a vascular & interventional radiology specialist at St. Joseph
Hospital in Orange, CA.

“We believe that the Serranator Alto’s ability to operate even in
highly calcified vessels is a significant differentiating factor for the
product, which owes its performance to the serrated metal strips that
score the lesion and aid in dilatation,” added Carol A. Burns. “We are
confident that these characteristics will benefit our Serranator
Bass product, which is designed for use in diseased infrapopliteal
arteries where current treatment options are generally poor due to the
diffuse calcified nature of these vessels. Treatment of Critical Limb
Ischemia (CLI) remains an enormous area of interest where we believe the
device will shine and will become the new standard of care for
below-the-knee interventions.”

1This project is supported by the Ben Franklin
Technology Partners of Southeastern PA, an initiative of the
Pennsylvania Department of Community and Economic Development funded by
the Ben Franklin Technology Development Authority.

About Cagent Vascular

Cagent Vascular is leading the way for next generation vessel dilatation
using proprietary serration technology. It is the second cardiovascular
company formed by co-founders Carol A. Burns, President and CEO, Peter
Schneider, MD, Vascular Surgeon, Chief Medical Officer and Robert
Giasolli, VP of Research and Development. Visit www.cagentvascular.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005492/en/

Leave a Comment