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Series C brings in $21.6mm for Svelte Medical Systems

Executive Summary

Svelte Medical Systems Inc. (stents) raised $21.6mm through what is believed to be its Series C venture round. New backers CNF Investments and New Science Ventures led and were joined by 24 current shareholders. The money will be used to finish Svelte’s DIRECT II study (examining the company’s all-in-one-system, which combines a cobalt chromium stent with a bioabsorbable drug carrier and sirolimus drug mounted on a fixed-wire integrated delivery system (IDS)); prep for commercialization of the drug-eluting coronary stent IDS and rapid exchange platforms in Europe; and expand its operations.
Deal Industry
  • Medical Devices
  • Medical Devices
    • Implantable Devices
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Financing
    • Venture Financing

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