The buzz: Qvanteq spun off of the Swiss Federal Institute of Technology in 2009 with a focus on developing a "bioactive" coronary stent that doesn't rely on a coating or release a drug. Rather, it gets its job done with proprietary "surface" technology. In short, this is a little company with big ambitions, entering a market space already dominated by much larger rivals including Abbott Laboratories ($ABT), Swiss competitor Biosensors International, Boston Scientific ($BSX) and Medtronic ($MDT), among others. The stent has already greatly reduced restenosis in preclinical in vivo studies versus bare metal stents, the company said, and performed comparably to or better than drug-eluting stents.
Milestone: The company raised more than $4.3 million in Series B funding from private investors in February. Qvanteq plans to use the funding to propel a proof-of-concept, first-in-man study of its stent as well as a bid for CE mark approval.
Swiss stent developer grabs $4.3M series B in crowded EU market