Massachusetts-based stent technology firm Names CEO, picks RTP for headquarters

Research Triangle Park, N.C. — Tryton Medical, a developer of stent technology, is moving its headquarters to RTP and also is adding a new chief executive officer.

Tryton, which was launched in Massachusetts in 2003, closed on $14 million in venture capital earlier this month.

On Monday, the firm also announced that J. Greg Davis, a veteran Guidant and Eli Lilly executive, is its new president and chief executive officer. Davis worked at Lilly for 20 years. His most recent position was president of Guidant, Japan, a cardiovascular technology firm.

In an interview with Local Tech Wire, Davis said the company would locate its four U.S.-based employees in the Triangle. The firm continues to look for space, Davis added. Davis and his family live in Chapel Hill.

Once the company has secured its new offices, Davis said he expects the firm's staff to double in size.

Tryton's stents are manufactured by another company. Its first product is already approved for sale in Europe, and Davis said the company will be building a sales organization in Europe.

A University of Minnesota graduate with a degree in mechanical engineering, Davis earned at MBA at the University of Michigan.

"I am excited about this opportunity because I believe the Tryton side-branch stent will redefine the standard of care for bifurcation lesions," Davis said in a statement. "Tryton's elegant design, ease-of-use and stellar clinical results are impressive. I look forward to implementing the company's aggressive European commercialization strategy and U.S. clinical trial plans."

Bifurcation lesions are associated with cardiovascular disease. The stents are designed to prop open arteries after blockage has been removed.

Aaron Kaplan, a medical doctor at Dartmouth Medical School, and Dan Cole of Spray Venture Partners founded the company.

PTV Sciences and RiverVest Venture Partners led the $14 million Series C venture capital round.