Stentys adds new investor as funding round reaches $22m

Medical device pioneer Stentys has secured the second tranche of its Series B financing from SEP and Sofinnova Partners with the injection of a further $4.2 million from new investor Crédit Agricole Private Equity, bringing the total raised to more than $22m.

Stentys has developed an innovative cardio-vascular stent which delivers critical benefits for patients being treated for complex coronary artery disease.  Patients suffering from this condition, one of the leading causes of mortaility in the world, require medical intervention using stents to unclog arteries. 

Stentys has developed a stent specifically designed to unclog arteries in complex cases where a patient’s main heart vessel branches out into two smaller ones. The device marks a major breakthrough in terms of patient safety, ease of use for cardiologists and clinical efficacy.

Stentys has completed an initial 40 patient clinical trial which demonstrated the product’s safety and efficacy. It will use the new funds to enable it to obtain CE marking (which signifies a product meets European legislative requirements) and then to commence European marketing.

Brian Kerr, Partner at SEP, said: “We are delighted to have the added investment from Crédit Agricole Private Equity. This additional funding underscores the significant potential that Stentys’ platform presents in the treatment of heart attacks and bifurcation lesions.”

Antoine Papiernik, Managing Partner with Sofinnova Partners, said: “The ability of the company to add an investor to the syndicate in this very difficult financing environment bears strong testimony to the strength of the Stentys’ platform.”