Advanced NanoTherapies closes oversubscribed $31M Series B for dual-drug coated balloon platform
What's the deal? Advanced NanoTherapies (ANT), a clinical-stage medtech startup based in Santa Clara, California, has closed an oversubscribed Series B round totalling more than $31M. The financing was co-led by an undisclosed strategic investor and S3 VenturesDealroom has a profile for this one. Try Dealroom →, with participation from the T45 Fund and other new and existing investors.
ANT is developing a nanoparticle-coated balloon platform that delivers two drugs — paclitaxel and sirolimus — simultaneously to treat coronary and peripheral artery disease. The technology, exclusively licensed from Cleveland Clinic, is designed to outperform first-generation drug-coated balloons (DCBs) that rely on a single crystalline drug.
The funds will support US Investigational Device Exemption (IDE) approval, coronary clinical advancement, and expansion into below-the-knee peripheral applications.
Why now? First-generation single-drug DCBs are gaining traction in the US market, but ANT argues they expose the limitations of passive crystalline drug delivery. "This financing milestone arrives at a pivotal moment in vascular intervention," said Marwan Berrada-Sounni, ANT's chief executive officer.
ANT's lead programme, SirPlux Duo, has received FDA breakthrough designation. A first-in-human study of 28 patients across Australia, the Dominican Republic, and New Zealand showed no new treatment failures at two-year follow-up. An ongoing 30-patient study in Spain is designed to mirror the US pivotal protocol.
What could go wrong? SirPlux Duo is not yet approved for commercial use. ANT still needs to scale manufacturing to meet FDA IDE requirements and execute pivotal trials across multiple indications — a lengthy, capital-intensive process. Competing DCB makers could also advance their own next-generation platforms in the interim.
The signal: ANT's oversubscribed Series B, co-led by S3 Ventures — a fund not typically associated with medtech — suggests that the dual-drug DCB category is attracting capital beyond the usual cardiovascular device investors. With FDA breakthrough designation already in hand and Dealroom classifying the company at "breakout" stage, ANT is racing to establish a new standard before first-generation DCB incumbents iterate on their own platforms. The presence of an undisclosed strategic co-lead hints that at least one larger device player sees the nanoparticle approach as a credible threat to the single-drug status quo.
Read more: prnewswire.com
