Stentys Completes Successful IPO Raising $31.9 Million On NYSE Euronext Paris
10/28/2010 7:28:42 AM
PRINCETON, N.J., and PARIS, Oct. 28, 2010-Stentys, a medical technology company that markets a new generation of innovative stents to treat Acute Myocardial Infarction (AMI), announced today that its shares are now listed and traded on the NYSE Euronext Paris (Ticker: STNT).
As a result of this IPO, Stentys has raised $31.9 million (€22.7 million), which will be used to commercialize its innovative stents in Europe and to obtain regulatory approvals for their commercialization in the United States.
"We are extremely pleased with the success of Stentys' IPO. Now our company has the financial resources to educate the cardiology community about the potential life-saving benefits of our self-apposing stents. The clinical evidence is indisputable: malapposition, which is a known cause of early stent thrombosis and repeat AMI, can be eliminated with the use of a self-apposing stent," said Gonzague Issenmann, CEO and Co-Founder of Stentys.
"This cash infusion is obviously a very significant event for Stentys, as we now have the means to establish Stentys' self-apposing stent as the reference treatment for AMI, a $2.3 billion market," added Prof. Jacques Séguin, Chairman and Co-Founder of Stentys.
Acute Myocardial Infarction (AMI) affects 100,000 people each year in France and an additional 900,000 people in the United States.
This announcement is not an offer for sale of securities in the United States. The securities referred to herein have not been offered or sold in the United States and may not be offered or sold in the United States of America, except pursuant to a registration statement under the US Securities Act of 1933, as amended (the "Securities Act"), or pursuant to an exemption from registrations thereunder. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
Based in Princeton, N.J., and Paris, Stentys has developed a new generation of stents to treat acute myocardial infarction (AMI). Founded by Jacques Séguin, M.D., Ph.D., (also founder of CoreValve, which was acquired by Medtronic) and Gonzague Issenmann, Stentys received the CE mark for its flagship products in 2010. Its self-apposing stents adapt to the anatomic changes of the arteries in the post-infarction phase and thus prevent the malapposition problems associated with conventional stents. Stentys has commenced its marketing activities in several European countries.