Lutonix Inc. Announces $20 Million Series B Financing

This post was commissioned on October 28, 2008, and it was categorized as Venture Capital, funding.

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Lutonix announced the close of a $20 million Series B financing. Lutonix is a medical device company
focused on drug coated balloon
angioplasty technology for the treatment and prevention of coronary and
peripheral artery stenosis caused by atherosclerosis. Lutonix’s drug coated
balloon technology is anticipated to enhance therapeutic options for
patients who are candidates for conventional therapies such as balloon
angioplasty and stents and for those who are no longer likely to benefit
from those treatments.

Lutonix’s first targeted indication is expected to
be the treatment and prevention of vascular restenosis through the use of
its proprietary, drug coated balloon angioplasty catheter. Lutonix will use
the new capital for continued product development activities and to fund
the company’s initial human clinical trials.

The round was led by Versant Ventures (http://www.versantventures.com),
a leading healthcare-focused venture capital firm, that was joined by new
investor, Delphi Ventures (http://www.Delphiventures.com). Also
participating in this round were both Series A investors, U.S. Venture
Partners (http://www.usvp.com) and founding venture firm RiverVest Venture
Partners (http://www.rivervest.com).

Lutonix Inc. Announces $20 Million Series B Financing
-(Via PR Newswire: Pharmaceuticals/Biotechnology.)

Theoretically Related Posts

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October 29, 2008 -- DFine Secures $30 Million in Series D Funding (0)
August 12, 2008 -- Heathcare / Medical Venture Capital Groups (1)
April 29, 2008 -- Financing for Nuon, Constellation and Neurologix (0)
April 16, 2009 -- Lycera Closes $36 Million Series A (0)
April 15, 2009 -- Synageva Nets $30M (0)
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October 22, 2008 -- Neuroptix Raises $18.5 Million in Successful B Round (0)

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Eben Tessari

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