By Lisa Kerner
Erie, Pa., March 28 - Aptus Endosystems Inc. said it raised $19.5 million in series B financing.
The company will use the proceeds from the financing to support continuing development, to begin the U.S. clinical trial program (Staple-1) for its abdominal aortic aneurysm product and to build its operations infrastructure, according to a company news release.
This latest round was led by Prism Venture Partners and joined by Baird Venture Partners, both new investors. Existing investors U.S. Venture Partners and Pequot Ventures also participated in the round.
Gordie Nye, general partner, Prism Venture Partners, will join the Aptus board of directors.
"Aptus Endosystems' next generation stent-graft represents a true advancement in minimally invasive abdominal aortic aneurysm repair," Nye said in the company news release.
"It will overcome the shortcomings of earlier devices and has great potential to become the standard of care therapy for this devastating disease."
Located in Sunnyvale, Calif., Aptus is a privately held medical technology company developing technology and products for the treatment of endovascular aneurysm repair.
| Issuer: | Aptus Endosystems Inc.
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| Issue: | Series B financing
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| Amount: | $19.5 million
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| Investors: | Prism Venture Partners (lead), Baird Venture Partners, U.S. Venture Partners, Pequot Ventures
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| Announcement date: | March 28
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