Cierra, Inc. Raises $21M from Top Venture Healthcare Investors.REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif. -- Cierra, Inc. today announced a $21 million financing led by Delphi Ventures, Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA. The round also received strong support from current investors including Morgenthaler Ventures, Split Rock Ventures and Frazier Healthcare Ventures. The funds will be used primarily to launch US clinical trials and to initiate commercialization of Cierra's non-implant, catheter-based technology focused on migraine reduction by closure of Patent Foramen Ovale patent foramen ovale PFO Cardiology An opening between the left and right atria which allows blood to bypass the lungs in utero; the FO normally closes shortly after birth, but remains open in up to 20%; a PFO is, in absence of other cardiac defects, is of no consequence (PFO PFO Patent Foramen Ovale (defect of the heart) PFO Paphos, Cyprus - International (Airport Code) PFO Principal Federal Official (US Departement of Homeland Security) ) in the heart. "Delphi Ventures is very pleased to lead this key round of financing for Cierra. Cierra has an outstanding team of professionals who have developed a unique approach to PFO closure that does not involve leaving behind an implant in the heart," said John Maroney a General Partner of Delphi Ventures. Erik Engelson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cierra, said, "We are delighted both to have Delphi as an investor as well as by the continued broad support of the current investors." Delphi Ventures, based in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , is a venture capital firm focused on early stage healthcare investing, including medical devices, diagnostics and biotechnology (www.delphiventures.com). Headquartered in Redwood City, CA, Cierra, Inc. is a medical device company focused on minimally invasive treatment of heart conditions. Cierra is the seventh portfolio company from the medical device incubator, The Foundry (www.the-foundry.com), and is privately held. Venture investors in Cierra, Inc. include Morgenthaler Ventures (www.morgenthaler.com), Split Rock Partners (www.splitrockpartners.com) and Frazier Healthcare Ventures (www.frazierhealthcare.com). |
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