BOSTON, MA—January 13, 2011—Stonebridge Associates announced today that it served as exclusive financial advisor to Avinger, Inc.,  in its recent $25 million Series B financing. Avinger, a medical device manufacturer of innovative, multi-functional catheters for treating peripheral artery disease (PAD), will use the capital to accelerate commercialization of its Wildcat™ and Kittycat™ guide wire support catheters and complete development of the company's therapeutic catheters that integrate real-time visualization of arterial blockages based on optical coherence tomography (OCT) imaging technology.
It is estimated that PAD affects between eight and 12 million adults—and is the leading cause of amputation in patients over 50. Currently there are over 150,000 amputations per year due to PAD and major causes include smoking, obesity, high cholesterol, high blood pressure, diabetes, inactivity, and poor diet.
Led by Managing Director Mitch Briskin, Stonebridge Associates helped Avinger develop a multi-channel financing strategy, prepared offering materials that positioned the company following its merger with an affiliated company, and facilitated meetings with leading endovascular device manufacturers and medical device institutional investors. Says Mitch, “It was a pleasure to work with Dr. Simpson and his experienced management team, particularly since integrated visualization promises such dramatic improvement in patient outcomes. We are pleased with the size and terms of the financing.”
|
Stonebridge Associates specializes in providing merger and acquisition (M&A), divestiture, private placement, and strategic financial advisory services to middle market and emerging growth technology companies. Applying industry experience and structuring expertise to every engagement, Stonebridge Associates develops creative solutions to help clients achieve superior outcomes. Since 1986, Stonebridge has closed over $3 billion in private financings and advised on over 300 M&A transactions and advisory assignments. Member FINRA/SIPC.
Founded in 2007 by renowned cardiologist and medical device entrepreneur Dr. John B. Simpson, Avinger develops next-generation catheter-based technologies for the treatment of peripheral artery disease (PAD). Leveraging core competencies in medical device catheter engineering and intravascular imaging, Avinger markets the Wildcat™ and Kittycat™ guide wire support catheters, and is currently developing novel technologies that guide endovascular therapy and intervention with real-time imaging capability.
|
Connecting to Facebook