Cagent Vascular, a commercial stage medical device company, announced a Series C Financing close in excess of $30 million. The funding will go toward driving U.S. market adoption for Serranator, its serrated balloon catheter.
“We are pleased with the significant investment from U.S. Venture Partners and other new and existing investors. To date, we estimate that over 10,000 Serranator PTA Serration Balloon Catheters (Serranator) have been used to treat those suffering from Peripheral Artery Disease (PAD). This infusion of capital will increase our commercial reach, helping to provide greater access for healthcare providers and their patients,” said Cagent CEO Carol A. Burns.
The Serranator PTA Serration Balloon Catheter (Serranator) has three embedded serrated elements designed to modify the plaque by creating linear, interrupted scoring along the endoluminal surface to aid arterial expansion. The Serranator’s unique mechanism of action has demonstrated greater lumen gain than plain angioplasty balloons. Increased lumen gain results in restored blood flow to the foot, leading to wound healing and relief of symptoms.
The Serranator has received FDA 510k clearance and is intended for dilatation of lesions in the iliac, femoral, iliofemoral, popliteal and infrapopliteal arteries for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae. The product is currently being sold in the US. The Serranator device also has CE Mark and limited distribution in Europe.
