Cagent Vascular Closes $41 Million Series D Financing Following First Human Use of Serranator SONIC IVL System
Pennsylvania-based Cagent Vascular has announced the closing of a $41 million Series D financing round, co-led by U.S. Venture Partners and Astoria Health Investors. The oversubscribed round builds on a commercial foundation already established, as the company’s Serranator portfolio is sold across most major U.S. markets and select international markets.
The financing will fund the global REMODEL II pivotal trial and commercial launch of the Serranator SONIC Intravascular Lithotripsy System, as well as the company’s SONIC IVL coronary artery platform. The system combines Cagent Vascular’s Serranator Serration Remodeling Therapy platform with a SONIC lithotripsy generator, creating what the company describes as a dual-modality system whose combined effect exceeds what either technology delivers on its own. The system is fully disposable, requires no capital equipment, and enables physicians to tailor energy delivery in real time.
The company also reported the successful completion of first human-use procedures with the SONIC IVL System, performed in Uzbekistan as part of the REMODEL I Study evaluating safety and performance in femoropopliteal and infrapopliteal arteries. First cases demonstrated successful calcium modification and lesion remodeling observed through angiographic and intravascular ultrasound imaging.
Brian Walsh, Chief Executive Officer of Cagent Vascular, stated that for years, physicians treating peripheral artery disease have had to choose between two highly effective but separate technologies, SRT and IVL. He noted that the SONIC IVL System eliminates that tradeoff, allowing physicians to access both mechanisms in a single device during a single procedure. Casey Tansey of U.S. Venture Partners said Cagent has developed a next-generation IVL platform with significant clinical and commercial potential, building on over 40,000 safe and effective Serranator procedures, and that the successful first human-use experience, growing commercial business, and future coronary expansion together position the company to execute in this high-growth segment.
