Cappella, a medical device company that is developing solutions for the treatment of Complex Coronary Artery Disease (CAD) and specifically bifurcation vascular disease, has completed a $17.3m Series C investment, led by new investors Fountain Healthcare Partners and Mitsui & Co Venture Partners (MCVP). Enterprise Ireland also participated in this round alongside Cappella's existing investors, Polytechnos Partners and ACT Venture Capital.
Proceeds will be used to finance the launch of Cappella’s proprietary Sideguard Sidebranch stent for the treatment of bifurcated vascular disease in Europe and to advance key R&D programmes in Galway on additional applications of Cappella’s technology in Complex Coronary Artery Disease (CAD).
Dr Art Rosenthal, Cappella’s recently appointed CEO, said, “This funding will allow us to expand our pipeline, to supplement on-going clinical studies and to successfully launch our first product, the Sideguard Sidebranch stent. We believe our proprietary products will treat many types of bifurcation disease, including Left Main Bifurcation Disease. In 2008, this was a $1bn worldwide market and it is growing annually.”
Dr Rosenthal previously served as chairman and CEO of Labcoat and as CSO of Boston Scientific Corporation. Cappella has also appointed additional senior management to lead European sales and manufacturing activities.
Dr Ena Prosser of Fountain Healthcare Partners said, “We are delighted to invest in Cappella at a very strategic point in the company’s development. From our perspective, Cappella has a differentiated product offering for the treatment of coronary heart disease. Cappella’s impressive management team and top-class scientific advisory board will drive rapid adoption of the Sideguard Sidebranch stent in Europe and its successful clinical development in the US.”
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