Sadra Medical Raises $19 Million in Series B Financing.Company Makes Significant Progress in Its Quest to Transform Heart Valve Therapy CAMPBELL, Calif. -- Sadra Medical, a privately-held, development stage Silicon Valley firm dedicated to developing innovative new therapies for aortic valve aortic valve n. The valve between the left ventricle of the heart and the ascending aorta, consisting of three semilunar cusps. Aortic valve disease, has recently completed a $19M Series B round of funding. Oakwood Medical Investors and Boston Scientific The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, joined the company's Series A investors, Pequot Ventures, Onset Ventures and SV Life Sciences Advisors (SVLS SVLS Sacramento Valley Live Steamers (Rancho Cordova, CA) ), in the financing. "We are pleased to be backed by the deep experience base of our investors. Their support will help us in attaining our goal of delivering the best device possible to make percutaneous aortic valve replacement In percutaneous aortic valve replacement (PAVR), a synthetic valve is transported to the heart through a small hole made in groin. This procedure can be compared to that performed when placing a stent, or performing balloon angioplasty. a viable therapeutic option for patients in need," stated Amr Salahieh, 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 Sadra Medical. "Our momentum is building and we look forward to initiating clinical evaluation clinical evaluation Medtalk An evaluation of whether a Pt has symptoms of a disease, is responding to treatment, or is having adverse reactions to therapy of the Sadra Lotus[TM] Valve within the next several months." Raul Perez Raul Perez (born 1967-02-14 in Tijuana, Mexico) is a former boxer from Mexico. He has won world titles in two weight divisions. Professional Career Known as "Jibaro", Perez turned pro in 1984 and in 1988 defeated Miguel Lora for the WBC bantamweight title in an extremely , president of Oakwood Medical, observed, "We believe percutaneous aortic valve replacement will play a significant therapeutic role in the future. This investment in Sadra Medical reflects the consensus of the group of investors that the innovative second-generation repositionable Lotus prosthesis prosthesis (prŏs`thĭsĭs): see artificial limb. prosthesis Artificial substitute for a missing part of the body, usually an arm or leg. developed by Sadra has great potential." Treatment of aortic valve disease remains a significant and growing unmet clinical need. As many as 3 million people in the U.S. have aortic stenosis aortic stenosis n. Abbr. AS Pathological narrowing of the orifice of the aortic valve. Aortic stenosis A stiffening of the artery which carries blood from the heart to the body. ; however, only a small percentage of those are treated with the current standard of care, open-heart valve replacement surgery, using cardiopulmonary bypass cardiopulmonary bypass n. A procedure to circulate and oxygenate the blood during heart surgery involving the diversion of blood from the heart and lungs through a heart-lung machine and the return of oxygenated blood to the aorta. . By delivering a highly effective aortic valve replacement Aortic valve replacement is a cardiac surgery procedure in which a patient's aortic valve is replaced by a different valve. The aortic valve can be affected by a range of diseases; the valve can either become leaky (aortic insufficiency / regurgitation) or partially blocked (aortic that reduces the risks and morbidity associated with surgery, Sadra Medical seeks to provide a therapeutic option for patients who are not being treated today. Sadra Medical was founded in 2003 by Amr Salahieh and a small group of leading-edge cardiovascular clinicians. Board members include Salahieh, Leslie Bottorff of Onset Ventures, Juliet Tammenoms Bakker of Pequot Ventures, David Milne of SVLS, and Fred Khosravi, CEO of Access Closure. Oakwood Medical Investors Oakwood Medical Investors is a life sciences venture capital firm investing in development stage medical device, pharmaceutical, and biotechnology companies. Target portfolio companies for Oakwood have an industry "disruptive" technology, have demonstrated proof of concept for their lead product and completed a first round of institutional venture financing. Over the past 16 years, Oakwood's managers have collaborated on more than 35 life sciences related investments in companies across the nation. The firm has offices in St. Louis, Missouri and Cleveland, Ohio. Boston Scientific Corporation Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com. Pequot Ventures Pequot Ventures is the direct equity investment arm of Pequot Capital Management, Inc., a leading asset management firm with over $5.5 billion of capital under management. Pequot Ventures was founded in 1996, has over $1.5 billion in capital under management and has invested in over 150 companies in the healthcare and technology sectors. ONSET Ventures ONSET Ventures is a 22-year-old venture capital firm specializing in early/seed stage information and medical technology-based startups. Based in Menlo Park, CA, ONSET has pioneered a shirt-sleeves style of active collaboration with entrepreneurs to conceive and develop successful new businesses. The firm has invested in over 100 companies, and has in excess of $700 million under management. SV Life Sciences SV Life Sciences Advisors ('SVLS') provides financing to businesses at all stages of development and across the human life sciences sector. These sectors range from biotechnology & pharmaceuticals to medical devices & instruments, to healthcare information technology and services. SV Life Sciences currently advises and manages four funds with capital commitments of over $1.2 billion, which primarily invest amounts of between $1m and $20m in North America and Europe. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion