REVA Medical Raises $42 Million

REVA Medical Inc., a San Diego-based developer of bioresorbable stents to treat arterial disease, has raised $42 million in new private equity funding. Cerberus Capital Management and Brookside Capital co-led the round, and were joined by Pequot Capital Management, Medronic and return backers Domain Partners and Group Outcome LLC.

Prior backer Boston Scientific will maintain its equity position, and also holds an exclusive option for global distribution of REVA's resorbable coronary and peripheral stent products. www.teamreva.com