The Venture Codex

Participated · Series E · Nov 2013

TriVascular develops design and manufacturing technologies for endovascular aortic repair (EVAR), including the Ovation and Ovation Prime implant platforms. The Ovation system received U.S. FDA PMA approval in October 2012 and CE Mark clearance in August 2010. Its products are approved for sale in over 30 countries, with approximately 2,700 patients treated to date. The company is led by Chairman and CEO Christopher G. Chavez. TriVascular closed a $40M Series E equity financing to expand commercial efforts worldwide and to accelerate its product pipeline and clinical research activities. Backers for the round include both existing and new investors as detailed below. TriVascular develops devices for endovascular aortic repair, including the Ovation Abdominal Stent Graft System. The company is pursuing U.S. PMA approval for Ovation and plans to use funding to initiate U.S. commercial activity. It also intends to drive further international sales expansion and continue product development. TriVascular is led by Chairman and CEO Christopher G. Chavez and is based in Santa Rosa, California. The company recently closed the initial tranche of a Series D equity financing to support these efforts. TriVascular, Inc., based in Santa Rosa, California, develops endovascular aortic repair (EVAR) stent graft systems. Its lead product is the Ovation Abdominal Stent Graft System, an investigational device designed to expand the patient population suitable for EVAR by addressing a wider range of diseased anatomy. The company is also advancing the Ovation Thoracic Stent Graft System. Clinical activity includes a completed study in Germany and a pivotal study underway in the United States, with research efforts spanning three continents. TriVascular plans to use the new capital to launch the Ovation abdominal system in Europe, drive clinical research globally, and accelerate next-generation product development. The company closed $60M in funding comprising a Series C equity financing and growth-capital venture debt, following a $30M Series B raised in November 2009. As part of the financing, David J. Kim of Pinnacle Ventures and Ryan Drant of NEA will join the board. TriVascular, based in Santa Rosa, California, develops innovative products for the treatment of cardiovascular disease. The company raised $30m in a Series B financing. The funds will be used to invest in TriVascular’s operations in Sonoma County and to build the infrastructure necessary to support clinical activity on four continents. TriVascular has over 170 employees in Santa Rosa. Investors in the round included New Enterprise Associates, Delphi Ventures, MPM Capital and Kearny Venture Partners.