DLA Piper has advised Australian Securities Exchange-listed REVA Medical, Inc. on the issue of US$25 million of convertible notes and also 8,750,000 options to an international investor consortium.

Headquartered in San Diego, REVA Medical, Inc., is developing a bioresorbable coronary scaffold for cardiovascular disease. The device provides a temporary support and drug supply for an artery after surgery and is naturally absorbed by the body over a period of years.

DLA Piper's Australian team was led by Partner David Morris with senior associate Nicole Sloggett and the US DLA Piper team was led by Partner Michael Kagnoff, from the firm's San Diego office.

David Morris said: "We are delighted to have advised long-term client REVA Medical, Inc. on this important capital raising, which will provide funding for REVA's ongoing operating, clinical and capital needs including the clinical program for its Fantom bioresorbable scaffold".