Reva raises $42M in financing for bioresorbable stent development

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Reva Medical, a company developing bioresorbable stents, has raised $42 million in a private financing led by Cerberus Capital Management and Brookside Capital, an affiliate of Bain Capital.

Pequot Capital Management and Medtronic, as well as previous investors, Domain Partners and Group Outcome, also participated in the round of financing.

The San Diego-based Reva said the proceeds will be used to continue the development and clinical testing of its bioresorbable stent products.

Boston Scientific maintains its equity position in Reva and will hold an exclusive option for global distribution for its resorbable coronary and peripheral stent products, according to Reva.