Trinity Capital Inc. Provides $15 Million in Growth Capital to Cagent Vascular Inc.
Rhea-AI Summary
Trinity Capital (NASDAQ: TRIN) has committed $15 million in growth capital to Cagent Vascular, a medical device company specializing in serration technology for vessel dilation in endovascular interventions. This funding complements a $45 million equity financing round led by US Venture Partners in 2024.
Cagent Vascular's flagship product, Serranator®, enhances angioplasty procedures by providing more controlled lumen gain with minimal dissection while reducing vessel recoil. The technology has been utilized in over 20,000 procedures and will use the new funding to scale commercial infrastructure and accelerate clinical adoption.
Positive
- Secured $15 million in growth capital financing
- Previously raised $45 million in equity financing in 2024
- Serranator® technology already used in over 20,000 procedures
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TRIN declined 1.17%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Cagent Vascular is a medical device company pioneering innovative vascular treatment technologies. The company's flagship product, Serranator®, helps improve angioplasty procedures by providing more predictable and controlled lumen gain with minimal dissection, while mitigating vessel recoil. Cagent Vascular aims to enhance patient outcomes and advance minimally invasive interventions by developing advanced endovascular solutions.
"We are excited to partner with Cagent Vascular as they continue to innovate and expand their platform of valuable solutions for physicians treating patients with peripheral artery disease," said Ryan Kaeding, Managing Director, Life Sciences at Trinity Capital.
"Cagent Vascular's Serration technology has been used in over 20,000 procedures and offers a growing library of compelling clinical evidence. We're confident this additional capital will help scale our commercial infrastructure and further accelerate clinical adoption," said Brian Walsh, Chairman and CEO of Cagent Vascular. "Trinity Capital's support is appreciated as we build a leading vascular company and make a difference in the lives of patients around the globe."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in
About Cagent Vascular Inc.
Cagent Vascular Inc., founded and led by serial medical technology entrepreneurs, is the leader in Serration Technology to treat peripheral artery disease. The company has developed a transformative improvement to conventional angioplasty, which is the most commonly performed procedure to restore blood flow. Although angioplasty has been used clinically for over 50 years, there remain significant opportunities to optimize the therapy and to improve the treatment outcomes of cardiovascular disease. To learn more about Cagent Vascular's mission to fight PAD, visit www.cagentvascular.com.
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SOURCE Trinity Capital Inc.
FAQ
How much growth capital did Trinity Capital (TRIN) provide to Cagent Vascular in February 2024?
What is the total funding raised by Cagent Vascular including Trinity Capital's investment?
How many procedures has Cagent Vascular's Serranator® technology been used in?
What will Cagent Vascular use Trinity Capital's (TRIN) funding for?
