Devax, Inc. Closes On $32 Million Of Series D Financing
11/2/2005 1:31:32 PM
IRVINE, Calif.--(BUSINESS WIRE)--Nov. 2, 2005--Devax, an emerging medical device company with a proprietary drug eluting stent for the treatment of vascular bifurcations, completed a $32 million Series D financing. The funding will be used to finance the company's US IDE clinical study and international marketing of the Axxess(TM) drug eluting bifurcation stent. The Series D financing was co-led by InterWest Partners and U.S. Venture Partners (USVP). Also participating as a new investor was Bio-Star Private Equity Fund. As part of the transaction Michael Sweeney of InterWest Partners and Casey Tansey of USVP have joined the Devax board of directors. Piper Jaffray advised the company for this transaction.