Stentys completed an initial public offering worth $31.9 million.
The Paris-based cardiac stent developer’s shares are now listed and traded on the NYSE Euronext Paris exchange under the symbol STNT.
Stentys plans to use the proceeds from the IPO to commercialize its stents in Europe and obtain regulatory approvals in the U.S. The company makes a self-apposing stent for treating acute myocardial infarctions, better known as heart attacks.
“This cash infusion is obviously a very significant event for Stentys, as we now have the means to establish Stentys’ self-apposing stent as the reference treatment for AMI, a $2.3 billion market,” Stentys chairman and co-founder Jacques Séguin said in prepared remarks.
The company recently released positive results from a clinical trial that compared its self-apposing stent with a conventional market-leading stent in patients suffering a heart attack.
