Funds Will Support MedAlliance’s Roll-Out of Selution SLR and IDE Clinical Studies

March 17, 2021—MedAlliance SA, which is commercializing the Selution SLR sirolimus-eluting balloon, announced it has raised more than $50 million in equity funding. The new investor is Trustar Capital (formerly known as CITIC Capital Partners). Proceeds from the financing will be used to fund commercialization of Selution SLR and support global clinical programs including enrollment of four additional FDA investigational device exemption studies this year.

According to the company, Selution SLR provides a controlled sustained release of a limus drug, with a similar elution time to that of a drug-eluting stent, while leaving nothing behind. The United States coronary in-stent restenosis study, which began enrollment in July 2020, is ongoing.

Selution SLR was awarded European CE Mark approval for the treatment of coronary artery disease in May 2020 and for the treatment of peripheral artery disease in February 2020. It is now available in Europe and all other countries where the CE Mark is recognized.