Medtech company MedAlliance raises over USD 50 million to commercialize drug-eluting balloonsWednesday 24 March 2021
Vaud-based MedAlliance has raised over USD 50 Million in equity funding for its novel balloon that provides a controlled sustained release of a limus drug. This financing will be used to fund the commercialization of SELUTION SLR and support global clinical programs.
MedAlliance’s SELUTION SLR is a novel sirolimus-eluting balloon that provides a controlled sustained release of a limus drug, with a similar elution time to that of a drug-eluting stent (DES), whilst leaving nothing behind.
Dedicated to developing innovative drug-eluting balloons (DEBs) for patients suffering from life-threating coronary and peripheral arterial disease, the company uses breakthrough proprietary technology that combines the proven safety and efficacy of the cytostatic drug sirolimus with microreservoirs made of biodegradable polymer as drug delivery systems and with a proprietary lipid technology which binds the microreservoirs to the balloon surface.
The fundraising of over USD 50 million was made possible thanks to new investor Trustar Capital, a private equity affiliate of China’s CITIC Capital Holdings Limited.
“We are very pleased to have Trustar Capital as a valued partner and have established a strong relationship with their team over a substantial period of time. Their in-depth knowledge and expertise in the global medical device market will be of tremendous benefit to us”, says Jeffrey B. Jump, Chairman and CEO of MedAlliance.
Headquartered in Nyon (canton of Vaud), in the heart of the “Health Valley”, MedAlliance is the first drug-eluting balloon company in the world to receive US FDA Breakthrough Device Designation Status for a sirolimus DEB, which has recently been awarded breakthrough status for SELUTION SLR in the treatment of atherosclerotic lesions in native coronary arteries.