Tryton Medical, a healthcare products manufacturer based in Durham, North Carolina, announced that it had successfully raised $24 million in its latest financing round. According to a press release by the company, funds from the equity funding round will be used to pursue FDA approval of its Tryton Side Branch Stent.
All existing investors at the company participated in the financing round. PTV Sciences provided the majority of funding in this round.
Shawn McCarthy is CEO and president of Tryton Medical. In prepared remarks, he said, “[Funds would be used] to support the company's U.S. Food & Drug Administration submission this year, to expand the company's platform portfolio with a new stent system designed to address left main disease, and to accelerate access into critical global markets, specifically in Asia.”
In May of 2011, Tryton Medical received CE Mark clearance from the European Union for its side-branch stent technology. This gave Tryton the ability to pursue overseas sales while clinical trials for the technology were still underway in the United States. After CE Mark approval, Tryton Medical also announced a new CEO. Shawn McCarthy stepped up as CEO from his previous role as SVP at AngioDynamics.