WAYNE, PA — Cagent Vascular, Inc., announced the closure of a Series C Financing round that raised over $30 million. The funding round was led by U.S. Venture Partners (USVP), with participation from new investor Blue Ridge Medical, LLC and existing investors, including Sectoral Asset Management.
Cagent Vascular, based in Wayne, Pennsylvania, is a fast-growing commercial-stage medical device company specializing in transformative improvements to conventional angioplasty. The firm’s flagship product, the Serranator PTA Serration Balloon Catheter (Serranator), has been used to treat over 10,000 patients suffering from Peripheral Artery Disease (PAD).
PAD is a common circulatory problem in which narrowed arteries reduce blood flow to the limbs. The innovative Serranator device features three embedded serrated elements that modify plaque by creating linear, interrupted scoring along the endoluminal surface to aid arterial expansion. Increased lumen gain, or the widening of the artery, improves blood flow to the foot, promoting wound healing and symptom relief.
A recent study published in the Journal of Endovascular Therapy highlighted the Serranator’s unique ability to minimize elastic recoil, a significant loss of lumen gain that can occur within 15 minutes of treatment. The study compared the degree of elastic recoil between the Serranator and plain balloon in below-the-knee lesions. The results showed a mean elastic recoil of 55% in the plain balloon group versus just 6% in the Serranator group. This finding indicates a potential significant improvement for people with Chronic Limb Threatening Ischemia (CLTI), the most advanced stage of PAD, where arteries are prone to elastic recoil post-treatment, reducing blood flow.
The Serranator has received FDA 510k Clearance and is currently being sold in the U.S. The device also has CE Mark and limited distribution in Europe.
“We are pleased with the significant investment from U.S. Venture Partners and other new and existing investors,” stated Carol A. Burns, CEO of Cagent Vascular. “This infusion of capital will increase our commercial reach, helping to provide greater access for healthcare providers and their patients.”
Casey Tansey, General Partner at US Venture Partners, echoed these sentiments, emphasizing the need for innovation in treating PAD patients. “As we reviewed the impressive clinical data and spoke to physicians about their patient outcomes, it was clear that Serration Angioplasty is truly innovative. This was further underscored by the strong early commercial success driven by the exceptional team at Cagent Vascular.”
With this latest round of funding, Cagent Vascular is poised to broaden the reach of its groundbreaking technology. The infusion of capital will allow the company to continue its mission of improving treatment outcomes in cardiovascular disease, providing more healthcare providers and patients with access to their transformative medical devices. The news underscores the growing interest in innovative medical technologies and the role they play in addressing complex health challenges, such as PAD.
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