REVA Medical, Inc. Raises $42 Million in Private Financing
My news for Investors
SAN DIEGO, Dec. 10 /PRNewswire/ -- REVA Medical, Inc., a company
developing novel bioresorbable stents to treat arterial disease, today
announced it has raised $42 million in a private financing led by Cerberus
Capital Management and Brookside Capital, an affiliate of Bain Capital.
Also participating in the round are Pequot Capital Management, Inc. and
Medtronic, along with previous investors Domain Partners and Group Outcome
LLC. The proceeds will be used to continue the development and clinical
testing of REVA's bioresorbable stent products.
"REVA continues to develop what we believe to be the most promising
approach for a stent that performs its important function and then safely
dissolves," said Bob Stockman, REVA Chairman. "Today, we match a
world-class medical investor group with a world-class program. These new
funds should provide adequate capital to fund the Company into clinical
development that will help position REVA very strongly for the future."
Boston Scientific Corporation (NYSE: BSX) maintains its equity position
in the Company and will hold an exclusive option for global distribution
for the Company's resorbable coronary and peripheral stent products.
REVA Medical, Inc. is developing interventional medical devices that
leverage the Company's novel stent designs and biomaterial technologies to
improve the treatment of vascular disease. For more information, please
visit http://www.teamreva.com.
SOURCE REVA Medical, Inc.
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