Stentys has completed an $18 million Series B round of venture financing to help finish clinical trials and obtain CE Mark for its drug-eluting, bifurcated stent.
The lead investor was U.K. venture capitalist firm Scottish Equity Partners, and the Series A investor Sofinnova Partners also participated in the B round, according to the Paris-based company.
Brian Kerr, one of the founding directors of Scottish Equity Partners and a partner in the firm's healthcare group, will join the Stentys board of directors, the company said.
“Stentys has achieved a major breakthrough in terms of patient safety, ease of use for cardiologists, and clinical efficacy,” said Kerr. “It has a high-caliber management team, and it has made rapid progress towards obtaining regulatory approval. There is a $1 billion-plus market opportunity for its product, and we are confident that the company will deliver significant value.”