Flexible Stenting Solutions Closes $6 Million Series A Financing with GBP Capital
Greenwich, CT and Eatontown, NJ January 20, 2008, -- Flexible Stenting Solutions Inc., a privately held medical device company focused on the development and commercialization of third generation flexible stents, today announced the completion of a six million dollar venture financing with GBP Capital. The flexible stents being developed are based on the company’s proprietary technology platform and may offer significant advantages over currently available options in treating peripheral arterial disease (PAD) and other indications.
Flexible Stenting Solutions has developed a novel third generation self-expanding stent specially constructed for the harsh loading conditions present in the superficial femoral (SFA) and popliteal arteries. The design of the fully connected stent leverages state of the art technology in a way that can now address the clinical challenge by providing a highly durable and fatigue resistant stent with superior radial stiffness and low chronic outward force. The key to Flexible Stenting Solutions’ stent technology is the integration of helically wound struts with helical flexible coils providing a mechanism optimized for vigorous applications, while the key to the Company’s delivery technology is simplicity, ease of use and placement.
“This third generation stent holds great promise in meeting the challenges of the next frontier of stenting,” said Janet Burpee, the company’s Chief Executive Officer. “Our core team – including our Board of Directors, Scientific Advisory Board and GBP Capital – are synergistically aligned to aggressively exploit this new technology for the benefit of patients with PAD.”
“GBP Capital is thrilled to be the Series A investor in Flexible Stenting Solutions, remarked Dr. Douglas Lind, managing partner at GBP Capital, “The helical design of the company’s stent platform technology offers a complete stenting solution, and we believe this construction offers a significant advantage over current treatment options for PAD.”
In Conjunction with the financing, David Wetherell and Dr. Douglas Lind, managing partners at GBP Capital will be joining the Board of Directors of Flexible Stenting Solutions.
About Flexible Stenting Solutions Inc.
Flexible Stenting Solutions Inc. is a privately held medical device company focused on the development and commercialization of flexible stents built on a proprietary design platform. The Company has created a novel stent that offers significant advantages in treating peripheral artery disease (PAD), a condition that currently affects 27 million individuals in the United States and Europe. The Flexible Stent platform also can be used for several other indications including carotid and neurovascular stenting. The company is based in Eatontown, NJ.
About GBP Capital
GBP Capital is a Greenwich, CT based private equity firm founded in early 2005 by David S. Wetherell, founder and former CEO of CMGI and innovator in the technology and Internet industries. GBP Capital's mission is to improve the human condition by providing venture funding and assistance to the most promising early to mid-stage life science companies. GBP targets companies with novel approaches to diagnostics, therapeutics, and medical devices that will change the face of healthcare innovation in the future. For additional information, please visit the company's website at http://www.gbpcap.com.
Contact:
Janet Burpee
CEO
Flexible Stenting Solutions, Inc.
23 Christopher Way, Suite 103
Eatontown, NJ 07724
Phone Number: 732-578-0060
Dr. Douglas Lind
Managing Partner
GBP Capital
537 Steamboat Road, Suite 200
Greenwich, CT 06830
203-769-2348
dlind@gbpcap.com
www.gbpcap.com
