Financing to Support Commercialization of First-in-Class Products for TransCarotid Artery Revascularization (TCAR) Procedure
SUNNYVALE, Calif., Oct. 20, 2015 /PRNewswire/ -- Silk Road Medical, Inc., a company dedicated to alleviating the devastating burden of stroke through surgical innovation, today announced it has received up to $57 million in equity and debt funding from new and existing investors. CRG, a premier healthcare investment firm and a new investor in Silk Road Medical, led the debt financing and also participated as an equity investor alongside returning investors Warburg Pincus and The Vertical Group.
Silk Road Medical's ENROUTE® Transcarotid Neuroprotection System (NPS) and ENROUTE® Transcarotid Stent System are the first products approved for use in TransCarotid Artery Revascularization (TCAR), a new procedure designed to reduce the risk of strokes. TCAR combines the surgical principles of protecting the brain with minimally invasive endovascular techniques to treat carotid artery blockages in the neck which are often the cause of devastating strokes in the brain.
Tens of millions of patients around the world have carotid artery disease, which can lead to a stroke if left untreated. There are more than 400,000 new diagnoses of carotid artery disease in the U.S. alone each year, with over 125,000 requiring operations, often with invasive surgical techniques.
"The strength of this financing is a testament to the large opportunity we have to solve unmet clinical needs and lead the next endovascular revolution with TCAR," said Erica Rogers, Chief Executive Officer of Silk Road Medical. "Our proprietary advances in temporary, robust flow reversal technology and transcarotid catheter designs help physicians treat this unforgiving disease in a minimally invasive manner with low risk of procedural complications like stroke, heart attack and nerve injury. We are thrilled to welcome CRG as a new investor and grateful for the continued support of our existing investors."
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Silk Road Medical Announces up to $57 Million in New Funding for Novel Approach to Preventing Strokes
Via: PR Newswire