Medical Device Company in Wayne Raises $9 Million to Expand ‘Commercial Efforts’

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Carol Burns 3rd degree connection3rd Co-founder, President & CEO, Cagent Vascular
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Carol Burns, CEO of Cagent Vascular.

Wayne-based Cagent Vascular has received a $9 million investment from Sectoral Asset Management to accelerate the commercialization of its lead product, writes John George for the Philadelphia Business Journal.

Following the investment, Marc-Andre Marcotte, a partner and COO at Canada-based Sectoral, has joined Cagent’s board of directors.

Cagent, founded seven years ago, develops next-generation angioplasty balloons via its proprietary serration technology.

In April 2020, the FDA gave marketing clearance for the medical device company’s Serranator PTA serration balloon catheter. The product is used in the treatment of below-the-knee lesions. Now, the company plans to use part of the investment funds to accelerate its commercialization and scaling of manufacturing.

“Our below-the-knee product launch is going extremely well,” said Carol A. Burns, CEO of Cagent. “Early commercial adoption and clinical outcomes are confirming the positive results seen in the (clinical trials for the device).”

She added that Sectoral’s vast experience with device companies focused on peripheral vascular interventions will “enable a more rapid expansion of our commercial efforts.”

Read more about Cagent Vascular in the Philadelphia Business Journal.

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