Micell Technologies said last week that it raised a debt-and-equity round worth nearly $62 million from a syndicate of 51 unnamed investors.
Paris-based Micell makes the MiStent SES sirolimus-eluting absorbable polymer coronary stent, designed to treat coronary artery disease. The company, which reported a nearly $26 million round last November, said in a regulatory filing that the funding involved debt, equity and preferred return notes.
In May, at the EuroPCR annual meeting of the annual meeting of the European Assn. of Percutaneous Cardiovascular Interventions, Micell said the MiStent SES met the primary endpoint in the Dessolve III clinical trial. The stent demonstrated non-inferior safety and effectiveness outcomes compared to the Xience everolimus-eluting stent made by Boston Scientific (NYSE:BSX).
In August 2016, Micell said it won approval to partner with contract manufacturer Surgical Technologies in Britain and will begin full-scale manufacturing of its MiStent SES for distribution to European Union countries.
Micell won CE Mark approval in the European Union for the drug-eluting stent in 2013. STI will serve as the primary contract manufacturer of the MiStent SES, according to the companies.