Sequent Medical Announces Closing of $26.0 Million Venture Financing
ALISO VIEJO, Calif., March 6, 2012 /PRNewswire/ -- Sequent Medical, Inc. announced today that it has closed a $26.0 million Series C venture capital financing. Delphi Ventures led the financing and was joined by existing investors Versant Ventures, US Venture Partners, and Domain Associates. James Bochnowski of Delphi Ventures will join Sequent Medical's Board of Directors.
"We are fortunate to have a strong consortium of life science venture capital firms and would like to welcome both Delphi Ventures as an investor in Sequent Medical and James Bochnowski as a Board member," said Tom Wilder, President and Chief Executive Officer. "We will utilize these funds to support our clinical, commercial, and technology development programs, including our initial WEB® Aneurysm Embolization System product line." Building upon on the foundation of endovascular embolic coils, the WEB is an intrasaccular neurovascular embolization device that is designed to bridge the neck of a ruptured or unruptured intracranial aneurysm and to promote rapid, peri-procedural stasis.
About Sequent Medical, Inc.
Sequent Medical, Inc. is a neurovascular device company that is dedicated to the development of innovative catheter-based technologies for neurovascular specialists and their patients. The company has developed proprietary MicroBraidTM technology to create the WEB, a low porosity intrasaccular embolization device that is deployed within the aneurysm to facilitate occlusion and healing. The WEB bears the CE Mark, and is available at select centers in Europe and other countries, but is not available for use in the United States. Sequent Medical Inc. is headquartered in Aliso Viejo, California, and has a European operation based in Bonn, Germany.