Cagent Vascular Raises Funds to Broaden Serranator PTA Catheter Commercialization

February 20, 2024—Cagent Vascular, Inc. announced the close of a Series C financing of more than $30 million. The funds will be used to accelerate the United States market adoption and expand the product portfolio of the company’s serration angioplasty technology.

Cagent’s Serranator percutaneous transluminal angioplasty (PTA) serration balloon catheter is FDA 510(k) cleared and commercially available in the United States. It is intended for dilatation of lesions in the iliac, femoral, iliofemoral, popliteal, and infrapopliteal arteries and for the treatment of obstructive lesions of native or synthetic arteriovenous dialysis fistulae. The device also has CE Mark in Europe, where it has limited distribution.

According to Cagent, the financing round was led by U.S. Venture Partners (USVP), a venture capital firm based in Menlo Park, California. New investor Blue Ridge Medical, LLC, participated in the round with existing investors, including Sectoral Asset Management.

“We are pleased with the significant investment from USVP and other new and existing investors,” said Cagent Vascular CEO Carol A. Burns in the company’s press release. “To date, we estimate that over 10,000 Serranator PTA serration balloon catheters have been used to treat those suffering from peripheral artery disease. This infusion of capital will increase our commercial reach, helping to provide greater access for healthcare providers and their patients.”

Casey Tansey, General Partner, USVP, added, “At US Venture Partners, we understand the challenges facing PAD patients and are keenly aware of the need for innovation for this vulnerable patient population. As we reviewed the impressive clinical data and spoke to physicians about their patient outcomes, it was clear that serration angioplasty is truly innovative. This was further underscored by the strong early commercial success driven by the exceptional team at Cagent Vascular.”