TriVascular raises $30 Million in series B funding
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Bangalore: TriVascular, a Santa Rosa, California-based developer of endovascular repair devices for treating abdominal aortic aneurysms, has raised $30 million in series B funding. This round of funding is led by return backers - New Enterprise Associates, Delphi Ventures, MPM Capital and Kearny Venture Partners. The series B financing will fuel further investment in TriVascular's operations in Sonoma County, California as well as enable the company to build the infrastructure necessary to support clinical activity in four continents. To date, TriVascular has hired over 170 employees in Santa Rosa. Also, the company previously raised $65 million, a part of which was used to purchase TriVascular from Boston Scientific (which itself had purchased the company from VCs Delphi and Kearny). "We are fortunate to have such strong financing support, especially in this economic environment. Support of this magnitude demonstrates not only enthusiasm about our technology but also confidence in the TriVascular team," said Mike Chobotov, President and CEO of TriVascular. Also, Vivek K. Jayaraman is the Vice President of Commercial Operations in the company. As reported by the Press Democrat, TriVascular claims that its devices are superior to others on the market. Instead of popping open at the repair site, hollow rings in TriVascular's stent grafts are inflated with liquid polymer, ensuring a snug fit. Its technology is designed to treat diseases of the aorta, both the abdominal and thoracic stent graft systems represent a technological leap forward from commercially available systems. In the U.S. alone, it is estimated that there are nearly two million people with an Abdominal Aortic Aneurysm (AAA), many with inadequate treatment options. Chobotov said, "We are excited to move into the clinical phase and bring much-needed technological advancement to patients suffering from aortic disease." "There are significant clinical unmet needs in the treatment of aortic disease and we believe TriVascular's technology will significantly broaden the applicable patient population for endovascular repair," said Doug Roeder, General Partner at Delphi Ventures. Also, Jake Nunn, Partner at New Enterprise Associates said, "We are pleased to continue our support of TriVascular as they enter the clinic. The company continues to meet, and exceed, their milestones and is building a truly world-class organization."

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