Silk Road Medical Announces Up to $57 Million in New Funding

October 20, 2015—Silk Road Medical, Inc. announced it has received up to $57 million in equity and debt funding from new and existing investors. CRG, a new investor, led the debt financing and also participated as an equity investor alongside returning investors Warburg Pincus and The Vertical Group.

The company will use proceeds from the financing to continue a controlled US commercial introduction of the Enroute transcarotid neuroprotection system (NPS) and Enroute transcarotid stent system initiated earlier this year, expand the clinical evidence base for transcarotid artery revascularization (TCAR) in the large ROADSTER 2 registry, and begin international expansion. 

In February 2015, the US Food and Drug Administration (FDA) granted 510(k) clearance for the Enroute NPS. In May, the company announced FDA premarket approval for the Enroute stent system.

Silk Road Medical advised that the Enroute transcarotid stent is indicated for use in patients at high surgical risk and is intended to be used in conjunction with the Enroute transcarotid NPS during the TCAR procedure. The Enroute transcarotid NPS is used to directly access the common carotid artery and initiate high-rate temporary blood flow reversal to protect the brain from stroke while delivering and implanting the Enroute transcarotid stent.