Medical device and MedTech insights, news, tips and more

Corindus Vascular Robotics Receives $45m Private Placement

March 2, 2017

Corindus Vascular Robotics

Boston Scientific (NYSE:BSX) got in on a $45 million private placement for Corindus Vascular Robotics (NYSE:CVRS) and the CorPath GRX device it’s developing for cardiac and peripheral vascular procedures.

New investors BioStar Ventures, Consonance Capital and Hudson Executive Capital also participated, joining existing backers HealthCor Partners Management and Royal Philips (NYSE:PHG).

“We are pleased to announce this financing and appreciate the support of our new and existing investors,” president & CEO Mark Toland said in prepared remarks. “The additional capital will allow us to continue the momentum created by strong interest in the recent launch of our next-generation CorPath GRX system and our expansion into Japan with an exclusive distribution agreement with MC Healthcare.”

Corindus said it expects to close the funding round in March.

The Waltham, Mass.-based company won FDA 510(k) clearance for the next-gen CorPath GRX system last October, adding several features including the ability to control the guide catheter in 1mm increments to precisely position balloon or stent catheters during percutaneous coronary interventions.

CVRS shares jumped 13.4% in pre-market trading today, to 75¢ apiece.

Source: Boston Scientific gets in on $45m private placement for Corindus Vascular Robotics – MassDevice

More insights

March 7, 2024
FDA Clears Dexcom’s First Over-the-Counter Continuous Glucose Monitor
Learn More
March 1, 2024
FDA greenlights Boston Scientific’s Novel Drug-Coated Balloon for Coronary In-Stent Restenosis
Learn More
February 21, 2024
Sparrow BioAcoustics Launches Software That Turns a Smartphone into a Stethoscope 
Learn More

Begin your legacy now. We are your medtech and medical device talent advisory firm.