“I am more than ever convinced that the Company is uniquely positioned to develop its breakthrough approach for treating acute myocardial infarction and bifurcation lesions.” Jacques Séguin, M.D., Ph.D., co-founder of Stentys and founder of CoreValve
PRINCETON, N.J., and PARIS, June 29, 2009—Medical device pioneer Stentys announced today that it has secured the second tranche of its Series B financing from Sofinnova Partners and SEP—closing an additional $4.2 million investment from new investor Crédit Agricole Private Equity—bringing the total B round financing to more than $22m.
Stentys was founded in 2006 to develop a new-generation stent designed for treatment of acute myocardial infarction and coronary artery bifurcations.
Treatment of acute myocardial infarction accounts for 50% of stent implantations worldwide, a $5 billion market. However, existing balloon expandable stents do not ensure optimal contact with the artery wall, and clotting can occur between the stent and the coronary wall and within the stent itself. Stentys’ self-expanding stent is constantly applied to the vessel surface and ensures immediate and permanent optimal apposition during thrombus and vessel spasm relief, therefore avoiding any malapposition and subsequent clotting.
“Stentys has completed an initial 40 patient clinical trial demonstrating safety and efficacy of the stent. This second financing tranche of the Series ‘B’ round will enable Stentys to obtain CE marking and begin European marketing of the first self-expanding stent platform for the treatment of myocardial infarction,” said Gonzague Issenmann, Stentys’ CEO.
Antoine Papiernik, Managing Partner with Sofinnova Partners, Stentys’ initial and largest institutional investor, commented, “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.”
Brian Kerr, Partner at SEP, stated, “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.”
Alexia Perouse, Director at Crédit Agricole Private Equity’s Venture Capital team, added, “I am delighted to be joining the Stentys board and to have the opportunity to contribute to the growth of the company and its game-changing technology to treat heart attacks.”
Jacques Séguin, M.D., Ph.D., co-founder and Chairman of Stentys, added, “I am delighted to see Stentys reinforce its financial base. I am more than ever convinced that the Company is uniquely positioned to develop its breakthrough approach for treating acute myocardial infarction and bifurcation lesions.”
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole S.A., specialising in direct investment in non-listed companies. A multi-specialist player in the private equity market, it has a team of 50 investors operating in a variety of fields (LBO &
Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy, PPP Infrastructure, etc.), and manages €2.8 billion through various private equity vehicles (FCPRs, SICARs, FCPIs and SCRs). The 12-strong venture capital team manages €375 million through FCPIs, and Crédit Agricole Private Equity’s portfolio currently includes a number of cutting-edge medtech companies such as SuperSonic Imagine, Circulite, Biospace, EyeTechCare and SpineGuard.
About Scottish Equity Partners
SEP is a leading European venture capital firm with offices in Glasgow and London. It helps entrepreneurs to create world class companies. The investment team, which is one of the most experienced in Europe, has backed and built global leaders in the information technology, healthcare and energy-related technology sectors. SEP’s portfolio of leading-edge companies includes: ArkEx, CamSemi, Daysoft, Gigle, ipaccess, picochip, Skyscanner, Tideway, VirtenSys. Zeus.
About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France that specializes in investments in early stage companies and corporate spin-offs in life sciences and technology. Since 1972, the firm has financed over 450 companies, many of which have gone public or have been acquired, and currently manages over €1 billion in assets. Sofinnova’s experienced team and hands-on approach in nurturing and supporting portfolio companies from initial financing to successful exit have created market leaders and multiplied revenues.
Based in Princeton, N.J., and Paris, Stentys intends to make treatment of complex blocked coronary arteries as simple and effective as a conventional stenting procedure. Stentys was cofounded by Gonzague Issenmann and Jacques Séguin, M.D., Ph.D., founder of CoreValve, which was acquired this year by Medtronic for $700 million plus milestones.
Crédit Agricole Private Equity
Martine Sessin-Caracci, firstname.lastname@example.org, Tel.: + 33 1 43 23 90 88
Antoine Papiernik, email@example.com, Tel.: + 33 1 53 05 41 00
Valerie Darroch, firstname.lastname@example.org, Tel.: + 44 7970 737708
Ronald Trahan, email@example.com Tel.: + 1 508 359 4005, x108