Fischell Stent Development Co., Svelte Medical Systems, Inc., Raises $17 Million in Series B Round
Published: Dec 19, 2011
Svelte Medical Systems, a medical device company started by serial entrepreneurs Robert Fischell and his sons David and Tim, has raised $17 million in a series B Round of financing — just under half of its $37 million target to develop its first- and second-generation stents for cardiac surgery. Its Acrobat all-in-one stent received a CE mark for regulatory approval in the European Union last year. In an interview with MedCity News, Mark Pomeranz, the CEO of Svelte Medical Systems, said the funding is intended to achieve pivotal CE mark trials for its second-generation, drug-eluting version of the Acrobat stent; expand sales and marketing efforts for its Acrobat all-in-one stenting system in Europe; and to initiate clinical trials on the Acrobat stents in the United States.