TriReme Medical pulled in an $18 million financing round to propel new product development and broaden the commercial sales of its coronary and peripheral artery disease treatment devices.
TriReme, which launched in 2005, sells PTA balloon catheters to treat peripheral artery disease with cool names such as "Chocolate", "GliderfleX" and "GliderXtreme." The company also sells at least two PTCA balloon catheters to treat coronary artery disease, dubbed "Glider" and "Antares," according to its website.
Luminor Capital in Singapore led the new funding round, which included existing investors as well as a number of new Asian investors, according to the company, which is based in both California and Singapore. Adams Street Partners, Three Arch Partners and EDB Investments are among investors already represented on the company's boards, according to MedCity News.
TriReme explains that its immediate focus in the months ahead is to further develop its pipeline of dilation catheters. But the company also wants to boost its global sales reach and infrastructure in order to sell more percutaneous devices designed to treat complex coronary and peripheral artery diseases.
- read the release
- here's MedCity News' take