CV Ingenuity, a Palo Alto, CA-based medical device company, has closed a $16m Series B financing.
The round was led by New Enterprise Associates, with participation from existing investors BioStar Ventures, Synergy Ventures and Western Technology.
The company intends to use the funds to accelerate product development and expand its executive team.
Led by CEO Duke Rohlen CV Ingenuity focuses on the development of a drug-eluting balloon platform technology that aims to treat peripheral artery disease while also working to prevent restenosis.
In conjunction with the funding, NEA General Partner Ryan Drant and principal Justin Klein will join the company’s Board of Directors.
FinSMEs
04/10/2011