IDev Technologies, a US-based company making products to keep arteries open, has raised $46m in its series D round from a consortium including an undisclosed healthcare company.
US investment bank Piper Jaffray’s Merchant Banking Fund and "a leading strategic global healthcare company" were the two new investors, while return investors included venture capital firms PTV Sciences, Bay City Capital, RiverVest Venture Partners and Heron Capital.
Christopher Owens, executive president of IDev since November, said: "We are excited to be working with our two new corporate partners, Piper Jaffray, an international investment bank and institutional securities firm with significant experience in the medical technology sector, and the additional new investor, a strategic global healthcare company."
IDev’s $19m series B round closed in 2006 and it had tried to raise $44m in a B round extension over the summer, according to a regulatory filing, before restructuring it into a D round.