Sequent Medical, Inc. Announces Closing Of $20.0 Million Venture Financing
ALISO VIEJO, Calif., April 8, 2014-- Sequent Medical, Inc. announced today that it has closed a $20.0 million Series D venture capital financing, led by existing investor Delphi Ventures. All of Sequent's other existing investors participated in the financing, Domain Associates, US Venture Partners, and Versant Ventures.
"We appreciate the continued support from our investor consortium as we continue to build Sequent into a leading neurovascular franchise," said Tom Wilder, President and Chief Executive Officer. "We will use the funds to continue our introduction of the WEBTM Aneurysm Embolization System, including execution of our planned US IDE clinical study, and to broaden our product portfolio."
About Sequent Medical, Inc.
Founded in 2007, Sequent Medical, Inc. (www.sequentmedical.com) is a privately held venture backed medical-device company that is dedicated to the development of innovative catheter-based neurovascular technologies. The WEB Aneurysm Embolization System and VIA® Microcatheter have both received the CE mark. The VIA has been cleared for commercial use in the United States. The WEB Aneurysm Embolization System is not approved for use in the United States. Sequent is headquartered in Aliso Viejo, California, and has European operations based in Bonn, Germany.
About The WEB Aneurysm Embolization System
Building upon the foundation of endovascular embolic coils, the WEB is an intrasaccular flow disrupter designed to bridge the neck of a ruptured or unruptured intracranial aneurysm and to promote rapid, peri-procedural stasis. The WEB is based upon Sequent Medical's proprietary MicroBraidTM technology, a dense mesh constructed from a large number of extremely fine Nitinol wires. Unlike conventional medical braids, MicroBraid features a mix of wire diameters to achieve a tailored balance of compliance, porosity and profile across device sizes.
The WEB enables physicians to treat a broad range of intracranial aneurysms with the familiarity of an intrasaccular approach while using established biomaterials. The WEB product portfolio consists of the original WEB DL configuration, the second generation WEB SL and SLS configurations, and the recently introduced Enhanced Visualization (or EV) versions. To date, the WEB has been used to treat a wide variety of nearly 800 ruptured and unruptured aneurysms in Europe, Turkey, Latin America, Australia and New Zealand.
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