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TriVascular

$96 million

Medical Device
Cardiovascular

Oct26
2014
Endologix, Inc. and TriVascular Technologies, Inc. Announce Merger to Create a Leading Cardiovascular Growth Company Focused on the Treatment of Aortic Disorders »

Aug4
2014
TriVascular Technologies, Inc. Receives FDA Approval of the Ovation iX(TM) Abdominal Stent Graft System »

Aug4
2014
Trivascular Technologies, Inc. and CRG Modify Term Loan Agreement »

Jun15
2014
TriVascular Technologies, Inc. Announces FDA Approval of Ovation iX(TM) Iliac Stent Graft »

Nov10
2014
TriVascular Technologies, Inc. and CRG LP Amend and Restate Term Loan Facility »

Oct15
2014
TriVascular Announces FDA Approval of CustomSeal(TM) Technology for the Ovation Prime(R) System »

Apr29
2014
TriVascular Announces FDA-Approved Expansion of Ovation® and Ovation Prime™ Indication Statements »

Apr22
2014
TriVascular Technologies, Inc. Announces the Closing of Its Initial Public Offering »

Apr15
2014
TriVascular Technologies, Inc. Announces Pricing of Initial Public Offering »

Nov18
2014
TriVascular Secures $40 Million in Equity Financing »

Feb5
2014
TriVascular and Capital Royalty Close Term Loan Facility »

Santa Rosa, CA, February 5, 2013 – TriVascular, Inc. (“TriVascular” or the “Company”) and Capital Royalty Partners II, L.P. (“Capital Royalty”) announced that they have closed a term loan facility.  The financing represents Capital Royalty Fund II’s largest commitment to date.

 

TriVascular is a privately-owned medical device company focused on developing novel endovascular aortic repair (EVAR) stent graft systems for the treatment of aortic aneurysms. The Company received FDA approval of the Ovation and Ovation Prime Abdominal Stent Graft Systems during the fourth quarter of 2012 for the treatment of abdominal aortic aneurysms.  Ovation and Ovation Prime combine the smallest available catheter profile (14F outer diameter) and a unique polymer O-ring sealing technology to provide the broadest indications for use of any approved EVAR device. As a result, Ovation significantly expands the pool of patients eligible for EVAR.  The EVAR market is estimated to grow from $1.3 Billion in 2012 to $2.0 Billion by 2017.

 

“Thanks to the support of Capital Royalty, and our entire investor group, we are well positioned financially to execute our strategy,” said Chris Chavez, TriVascular’s Chairman, Chief Executive Officer, and President. “The Capital Royalty team worked quickly and decisively to structure and fund the financing arrangement, allowing us to remain focused on the execution of the Ovation commercial launch.”

 

“Our investment in TriVascular reflects our focus on providing flexible financing solutions for innovative companies with commercial technologies,” said Charles Tate, Chairman and Founder of Capital Royalty L.P. “We are excited about the significant growth potential of TriVascular presented through the combination of differentiated technology, a large and growing market, and a capable management team.”

 

Capital Royalty’s term loan followed the Company’s previously announced $60 Million equity financing by a syndicate of leading venture capital and growth equity investors including New Enterprise Associates, Delphi Venture Partners, Kaiser Permanente Ventures, Kearny Venture Partners, Pinnacle Ventures, the Redmile Group and MPM Capital.

 

About TriVascular, Inc.

 

Building upon partnerships with thought leading clinicians worldwide, TriVascular develops products to address unmet clinical needs and expand the pool of patients who are candidates for EVAR. Based in Santa Rosa, California, TriVascular offers highly talented, motivated individuals the opportunity to positively impact global healthcare. More information is available at www.trivascular.com.

 

About Capital Royalty L.P.


Founded in 2003, Capital Royalty is a market pioneer and innovator in healthcare investing focused on intellectual property investments in approved products through a variety of structures including royalty bonds, secured debt, revenue interests and traditional royalty monetizations. Collectively, the Capital Royalty investment team has more than 140 years of healthcare, private equity, capital markets, and investment banking experience, having completed more than 50 royalty transactions representing $4 billion in capital over the past 15 years.

 

Capital Royalty works directly with leading healthcare companies, research institutions, and inventors to provide customized solutions to meet their unique financing needs. The firm is actively making investments through its managed investment funds which focus on sourcing, structuring, and investing in healthcare assets that provide superior risk-adjusted returns, attractive current cash yields, strong downside protection, and minimal correlation to other asset classes or the broader economy.

 

The firm is headquartered in Houston, Texas with offices in Boulder, Colorado and New York City. For additional information, please visit www.capitalroyalty.com.

 

Contacts: 

 

TriVascular, Inc.
Michael R. Kramer
Chief Financial Officer
1-707-543-8709
mkramer@trivascular.com

 

Capital Royalty L.P.
Luke Duster
Principal
1-713-209-7350
lduster@capitalroyalty.com

Jan21
2014
TriVascular Receives U.S. FDA Approval for the Ovation Prime™ Abdominal Stent Graft System »