Juventas Therapeutics has closed on a $22.2 million Series B financing. Triathlon Medical Ventures and New Science Ventures co-led the round, which also saw participation from all of the company's previous backers and a handful of new investors. The fresh capital will fund the completion of Phase II clinical trials investigating the use of the company’s lead product, JVS-100, in treating patients with chronic heart failure or critical limb ischemia.
Developer of regenerative therapies for cardiovascular diseases and ischemic disorders
Since the beginning of 2009, VC firms have completed 525 investments in U.S. companies that make medical devices and supplies, according to the PitchBook Platform. The Therapeutic Devices sub-sector has seen the biggest share of the deal flow, accounting for 31% of the total. With the addition of Juventas Therapeutics, companies primarily associated with the Therapeutic Devices sub-sector have raised over $347 million in combined venture funding so far this year.