Sequent Medical said it raised a Series D round worth $20 million from its slate of previous investors, led again by Delphi Ventures.
Domain Associates, US Venture Partners and Versant Ventures also participated, Sequent said.
The Web device is designed to disrupt the flow of blood across the neck of intracranial aneurysms to provide "rapid, peri-procedural stasis," according to a press release. It’s based on Sequent’s MicroBraid technology, a fine mesh of nitinol wires, the Aliso Viejo, Calif.-based medical device company said.
The Web device has CE Mark approval in the European Union; Sequent CEO Tom Wilder said the company plans to use the proceeds from the Series D round for a U.S. investigational device exemption trial.
"We appreciate the continued support from our investor consortium as we continue to build Sequent into a leading neurovascular franchise," Wilder said in prepared remarks. "We will use the funds to continue our introduction of the Web aneurysm embolization system, including execution of our planned US IDE clinical study, and to broaden our product portfolio."
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