Xlumena said it closed a $25 million Series C round it plans to use to expand its commercial footprint and win FDA clearance for its Axios stent and delivery system.
Mountain View, Calif.-based Xlumena said the round was led by Third Point LLC, with participation from existing backers Prism VentureWorks, Charter Life Sciences, Ascent Biomedical Ventures and Aperture Venture Partners. Third Point’s Jason Hong will join Xlumena’s board, according to a press release.
"As a company, we have always focused on the needs of interventional endoscopists. This financing will allow us to better meet the global commercial demand and provide a springboard for an initial launch of the Axios in the United States once FDA clearance is granted. We look forward to this new collaboration with Third Point and a continued partnership with our existing investors," president & CEO Greg Patterson said in prepared remarks.
Xlumena reported a $4.8 million raise earlier this year. The company roped in $7 million in a Series B funding round in 2011. Backers then included Aperture Venture Partners, Western Technology Investment, Prism Ventures, Charter Life Sciences and Ascent Biomedical Ventures.
The Axios system won CE Mark approval in the European Union in 2011 for drainage of pancreatic pseudocysts.