Svelte Medical Nabs $5M from West Health Investment Fund
March 11, 2014
Svelte Medical Systems, a developer of highly deliverable balloon expandable stents, has raised $5 million in additional funding from West Health Investment Fund, bringing its latest round to $27 million. The initial $22 million in the round was financed by CNF Investments and New Science Ventures in November 2013. The latest funding will help accelerate the company's regulatory approval processes in the U.S. and Japan, enhance operational efficiencies and augment commercial preparation activities of its drug-eluting coronary stent Integrated Delivery System and Rapid-Exchange platforms.
Svelte has now raised about $75 million of funding to date, including a $4 million Series B round that valued the company at nearly $71 million in 2010. Additional investors in the company include Norwich Ventures and Apjohn Ventures.