CoreValve Completes $33 Million Private Financing.IRVINE, Calif. -- CoreValve (www.corevalve.com), a medical device company developing technologies for percutaneous percutaneous /per·cu·ta·ne·ous/ (per?ku-ta´ne-us) performed through the skin. per·cu·ta·ne·ous adj. Passed, done, or effected through the unbroken skin. heart valve replacement Heart Valve Replacement Definition Heart valve replacement is a surgical procedure during which surgeons remove a damaged valve from the heart and substitute a healthy one. , announced today that it received $33 million in funding in its third institutional round of financing. Maverick Capital led the round and was joined by existing investors Apax Partners, HealthCap, and Sofinnova Partners. "We have made significant progress in the development of our core technologies as well as in our clinical programs," said Jacques Seguin, M.D., Ph.D., Chairman, 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. and Founder of CoreValve. "This additional capital enables us to continue the execution of our strategy of leadership in less invasive heart valve delivery systems and the expansion of worldwide clinical trials." About CoreValve Founded in 2001, privately held CoreValve--which is headquartered in Irvine, California--has developed a proprietary delivery system and tissue heart valve for percutaneous heart valve replacement. Based on a novel catheter-and-self-expanding-frame approach on a beating heart, the proprietary CoreValve ReValving System[TM] procedure is intended to avoid open-heart surgery open-heart surgery Any surgical procedure opening the heart and exposing one or more of its chambers, most often to repair valve disease or correct congenital heart malformations (see congenital heart disease). . It can be performed in a cardiac "cath lab A catheterization laboratory or cath lab is an examination room in a hospital or clinic with diagnostic imaging equipment to support the catheterization procedure. A catheter is inserted into a large artery, and various wires and devices can be inserted through the body via " just like angioplasty and stenting, which may result in less trauma to the patient and may offer substantial cost-savings to the healthcare system. For more information about CoreValve, visit the Company's Web site at www.corevalve.com. Forward-Looking Statements This news release contains certain "forward-looking" statements under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These "forward-looking" statements, which may include, but are not limited to, statements concerning the projections, financial condition, results of operations and businesses of CoreValve, are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Factors that could cause or contribute to such differences may include, but are not limited to, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the protection of intellectual property, changes to governmental regulation of medical devices, the FDA's approval of new products, the impact of competitive products, changes to the competitive environment, the acceptance of new products in the market, conditions of the interventional cardiology interventional cardiology Cardiology The subspecialty of cardiology dedicated to the diagnosis, medical and mechanical therapy, pre- and post-procedure management of adult patients with acute and chronic forms of cardiovascular disease amenable to catheter-based industry and the economy and other factors. (Caution: the CoreValve ReValving[TM] System will not be available in the USA for clinical trials or for commercialization until further notice.) |
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