U.S. Venture Partners Leads Round for Cagent Vascular

Commercial stage medical device maker Cagent Vascular has closed a $30 million series C financing round.

This round of financing was led by U.S. Venture Partners with participation from new investor Blue Ridge Medical and existing investors including Sectoral Asset Management.

Cagent’s flagship product is the Serranator PTA Serration Balloon Catheter, designed for the treatment of peripheral artery disease and now utilized in over 10,000 procedures. This device is designed to improve on the conventional angioplasty procedure which has been the standard treatment for over 50 years. The company was founded in 2014 and is headquartered near Philadelphia in Wayne, Pennsylvania.

“We are pleased with the significant investment from U.S. Venture Partners and other new and existing investors,” said CEO Carol Burns. “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.”

“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,” said Casey Tansey, the general partner of US Venture Partners. “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.”

Menlo Park-headquartered U.S. Venture Partners invests in early-stage companies across various technology sectors, including enterprise software, security, consumer internet, mobile, and healthcare.