IDev Technologies closes $25M financing round

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IDev Technologies, a provider in the development and marketing of minimally invasive stent systems for the treatment of peripheral vascular and non-vascular diseases, has closed a $25 million Series C round of financing.

The financing was secured entirely by its existing investors, including PTV Lifesciences, Rivervest Venture Partners, Bay City Capital, Heron Capital, members of the senior management team, corporate advisors to the company and initial independent investors, according to the Houston-based IDev.

The company said that it will use this round of financing to “enter into the full commercialization phase of the Supera Transhepatic biliary system. We also continue to be steadfast in our clinical trial and regulatory initiatives,” according to Thomas M. Tully, chairman and CEO of IDev.

The Supera Biliary Self Expanding stent has received FDA 510(k) clearance for the palliative treatment of biliary strictures produced by malignant neoplasms and CE Mark Approval for both peripheral vascular and non-vascular applications in Europe.