Sectoral Asset Management Makes $9M Investment into Cagent Vascular
Cagent Vascular Inc.1, a developer of next-generation angioplasty balloons using proprietary serration technology, announced the investment of $9M by Sectoral Asset Management. Along with the investment, Marc-Andre Marcotte has joined the board of directors. The proceeds will be used to accelerate the commercialization and scaling of manufacturing for the Serranator® below-the-knee (BTK) product. Further uses of proceeds include expanding the product offering to include larger sizes to treat the above-the-knee arteries.
The Serranator® PTA Serration Balloon Catheter 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 using low atmospheres of pressure.
“Our BTK product launch is going extremely well. Early commercial adoption and clinical outcomes are confirming the positive results seen in the PRELUDE-BTK study. We are delighted to have a high-quality investor like Sectoral join our team. Their deep experience investing and advising device companies focused on peripheral vascular interventions will enable a more rapid expansion of our commercial efforts,” stated CEO, Carol A. Burns.
Marc-Andre Marcotte, of Sectoral added, “We have been very impressed by Cagent’s achievements thus far and are excited to partner with them. We are confident that the unique features and high-quality clinical data of Serranator will drive strong market adoption”.
The Serranator’s differentiated mechanism of action is driving adoption. “The BTK space is in desperate need of innovation. These vessels are more challenging in terms of size, lesion length, and calcification and non drug-based balloon angioplasty is still the primary treatment. My experience with Serranator has been excellent and with its novel mechanism of action it has become an important tool in treating BTK disease. In the near future I look forward to using this technology in vessels above the knee to further optimize my angioplasty results,” explained Sarang Mangalmurti MD, Interventional Cardiology specialist at Bryn Mawr Hospital.
Cagent Vascular’s mission is to restore blood flow and restore life. By providing greater access of the Serranator technology we believe more people suffering with peripheral arterial disease will see improvements in quality of life and avoid limb amputation. The Serranator for the infrapopliteal indication is currently available in 2.5, 3.0, 3.5mm balloon diameters and 40, 80 and 120mm balloon lengths.
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’s vision is to be the leader for treating atherosclerotic disease with the first and only serration balloon technology to restore blood flow. It is the second cardiovascular company formed by co-founders Carol Burns, President and CEO, Peter Schneider, MD, Vascular Surgeon, Chief Medical Officer and Robert Giasolli, Chief Technology Officer. The team previously co-founded Intact Vascular.
The information contained herein obtained from Cagent Vascular management is believed to be reliable. This does not constitute the solicitation of the purchase or sale of securities. Except for historical information contained herein, matters discussed in this document are forward-looking statements, the accuracy of which is subject to risks and uncertainties.