NEWTON, Mass., March 31 Tryton Medical, Inc., the leadingdeveloper of stents designed for the definitive treatment of bifurcationlesions announced today that it has closed a $14 million Series C round offinancing. Two new investors, PTV Sciences and RiverVest Venture Partnersjoined with Spray Venture Partners in the financing. Rick Anderson from PTVand Jay Schmelter from RiverVest have been appointed to the Tryton Board ofDirectors.
"Bifurcation lesions are an important opportunity in the stentmarketplace. We have reviewed all the technology approaches in development.The ease-of-use, superb clinical results, and commercialization strategy,position's Tryton to make a real impact on this important clinical need", saidRick Anderson, Managing Director of PTV Sciences, and former Company GroupChairman, Cordis Corporation.
"We are very pleased to have completed this financing with the addition ofPTV and RiverVest," stated Dan Cole, Co-Founder and Board Member of Tryton andGeneral Partner of Spray Venture Partners. "This capital will allow Tryton toadvance its leadership position with aggressive execution of its Europeancommercialization strategy and clinical trial plans in the U.S."
The Tryton Side-Branch Stent is a high-performance cobalt chromium balloonexpandable stent, which marries with approved drug eluting stents todefinitively treat the entire spectrum of coronary artery bifurcation lesions.Bifurcation lesions account for approximately 20% of 2.2 million angioplastyprocedures performed each year. Results from the Tryton I (First-In-Man) Studydemonstrated Tryton's ease of use and unprecedented long term results (3%Target Lesion Revascularization, Side Branch Late Loss 0.12 plus or minus 0.47mm and NO side branch failures). Based on the strength of these results,Tryton recently received CE mark, establishing its leadership position withthe first stent commercially available for bifurcation lesions.
Information on PTV Sciences
PTV Sciences (http://www.ptvsciences.com), founded in 2003, is a leadinglife and materials sciences venture capital fund focused on building industryleading companies and investing in extraordinary people. PTV Sciences has ateam of investment professionals and 13 venture partners representing theleading clinicians, scientists, academic institutions and entrepreneurs. PTVSciences has offices in Austin and Houston, Texas.
Information on RiverVest Venture Partners:
RiverVest Venture Partners (http://www.rivervest.com) is a venture capitalfirm investing in emerging medical device, biopharmaceutical and otherhealthcare venture opportunities. RiverVest applies both its capital and itsteam's diverse range of expertise to create and grow successful enterprisesthat address unmet medical needs in major markets.
Information on Spray Venture Partners:
Since 1996, Spray (http://www.spraypartners.com) has provided capital andmanagement experience to the formation, financing, and strategic growth ofmany early-stage medical technology companies throughout the United States.The firm works closely with clinical and technical founders to createcompanies that develop, market and deploy innovative technologies that meetsignificant unmet healthcare needs.
Information on Tryton Medical, Inc.
Tryton Medical, Inc. was founded in 2003 by Aaron V. Kaplan, M.D.(Associate Professor of Medicine at Dartmouth Medical School/Dartmouth-Hitchcock Medical Center) along with Dan Cole to develop stents for thedefinitive treatment of bifurcation lesions. Tryton is based in Newton, MAwith work coordinated by H. Richard Davis (Chief Technical Officer). Moreinformation regarding Tryton can be found at http://www.trytonmedical.com orby contacting Richard Davis (firstname.lastname@example.org).
SOURCE Tryton Medical, Inc.