Devax Inc., an Irvine-based startup medical device maker, said Wednesday that it wrapped up a $32 million round of venture funding.
InterWest Partners, a venture capital firm with offices in Menlo Park and Dallas, and Menlo Park-based U.S. Venture Partners led the investment. Bio-Star Private Equity Fund LLC, which was founded by Michael Henson, a longtime Orange County medical device figure, also contributed funds.
Devax said it was going to use the funds to finance a study and international marketing of its lead product, the Axxess drug-coated bifurcation stent to treat heart-related ailments.
Michael Sweeney, a general partner at InterWest, and Casey Tansey, a general partner at U.S. Venture Partners, joined Devax’s board as part of the company’s fourth round of funding.
