Cagent Vascular Receives $9M Investment to Accelerate Marketing of its Lead Product
A Wayne medical device company has raised $9 million to accelerate the commercialization of its peripheral artery disease device cleared by the Food and Drug Administration last year.
Cagent Vascular received the investment from Sectoral Asset Management. Marc-Andre Marcotte, a partner and COO at the Canadian investment firm, has joined Cagent’s board of directors.
Founded in 2014, Cagent specializes in developing next generation angioplasty balloons using its proprietary serration technology.
In April 2020, the FDA granted marketing clearance to the company’s Serranator PTA serration balloon catheter — an angioplasty device with serrated metal strips to aid in arterial expansion — for treating below-the-knee lesions.
Cagent intends to use part of the investment proceeds to accelerate the commercialization and scaling of manufacturing for the Serranator product.
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