|
JULY 12th, 2005
CoreValve, which has developed a delivery system for percutaneous
heart valve replacement, has closed a $24 million Series B round led by Apax Partners and joined in by HealthCap.
Jacques Seguin, MD, PhD, CEO at CoreValve commented on the investment
and emphasized that the new technology offers a potential alternative to those who can not be treated with conventional open-heart
surgery, and as a less traumatic approach to all patients in need of heart valve replacement, "This significant cash
infusion from experienced and successful investors is a dramatic endorsement of CoreValve's ReValving approach to percutaneous
aortic valve replacement--a procedure that no doubt represents the area of legitimate excitement for the future of interventional
cardiology. Not only will ReValving offer immediate hope to patients who are currently left untreated because of their high
surgical-risk profile, but ReValving also will eventually offer all patients the opportunity to avoid the trauma of open-heart
surgery."
The percutaneous heart valve replacement technology that CoreValve
is working on uses a catheter-and-self-expanding-frame approach like angioplasty and stenting. The company notes that the
approach results is less trauma than open heart surgery and also provides substantial cost savings.
JULY 11th, 2005
As the present generation ages, and develops the associated medical
problems, the ability to provide quality medical care at low cost is expected to become more difficult. One reason is that
patient visits will rise without a corresponding rise in the number of doctors. Telemedicine, the capability to monitor and
diagnose patients from a distance, is one solution to that problem. Low-cost medical instruments that interface via a wireless
connection to the Internet, or in the case of Housecall Plus, through a telephone line and modem, are expected to be instrumental
in that solution. According to Michael J. Coyle, President of St. Jude Medical's Cardiac Rhythm Management Division, "With
the number of ICD patients expected to expand significantly over the next few years, physicians face an enormous challenge
in managing regular follow-up visits for those patients. The version 2.1 software upgrade offers physicians even greater flexibility
to provide excellent follow-up care more efficiently when using the Housecall Plus system."
St. Jude has just received approval from the U.S. Food and Drug
Administration (FDA) for the software upgrade version 2.1 of its Housecall Plus remote patient monitoring system. That software
is designed to remotely monitor implantable cardiovinverter defibrallator (ICD) patients. The new software version helps create
PFD files of monitoring results and transmits them securely to the physician’s web site.
Other features of the Housecall Plus system include real time doctor-to-patient
communication, real-time electrograms, surface ECGs, signals and settings of the ICD, delivered therapies and stored electrograms.
Housecall Plus also supports a number of St. Jude’s medical devices. These include St. Jude Medical's Atlasand Epic
line of ICD and cardiac resynchronization therapy devices and pacemakers.
JULY 6th, 2005
Westside Medical Imaging, located in Beverly Hills, California,
now offers one of the most precise medical imaging technologies on the market. The company has made available its 64-Slice
CT scanner, in an off-hospital site location, for the quick analysis of coronary abnormalities before they become a major
problem. The company also indicates that the CT Scanner can also be used to detect diseases such as cancer before other common
tests reveal them.
Noting the stealth-like nature of heart attacks, Norman Lepor, M.D.,
a cardiologist at Westside, also commented on the very fast CT test, "Nationally, about 50% of heart attack victims have no
warning symptoms. With the 64-slice CT scanner, we can detect signs of potential cardiovascular problems in just a few seconds."
The 64-slice CT allows for the precise identification of both calcified and non-calcified plaques and allow for the early
initiation of treatments to prevent heart attacks and sudden cardiac death.
Another cardiologist at Westside, Hooman Madyoon, M.D., pointed
out that the test was noninvasive, “Because the technology takes such a clear image of the fast-moving heart muscle
and arteries, we can now identify potentially life threatening coronary artery disease at its earliest stage, without discomfort
to the patient because the procedure is noninvasive."
Westside also said its faciolity is used to educate physicians
on the benefits of noninvasive CT-coronary angiography. The system used at the facility is the Siemens SOMATOM Sensation Cardiac
64, which the company says is used in 11 of the top 15 hospitals in America. Unlike the hospitals though, the test is streamlined
and doesn’t require repeat trips – according to the the company.
JUNE 27th, 2005
Orqis Medical Corporation, which has developed the Cancion CRS cardiac
recovery system, has announced the close of its Series D round. The round, which brought in $22.7 million, is expected to
be used for further evaluation of the company’s heart therapies. According to Marvin Konstam, M.D., Medical Director
at Orqis Medical, "This financing will allow Orqis Medical to complete scientific and clinical validation of its novel hemodynamic
discovery that continuous blood flow augmentation to the descending aorta treats underlying mechanisms responsible for heart
failure. This discovery could be a significant advance in the treatment of patients who suffer from heart failure."
The Cancion CRS cardiac recovery system is used to treat, according
to the company, “the underlying disease progression of congestive heart failure.” The company’s technology
is also focused on the treatment of cardiac patients that have been considered untreatable with present modern day medicine.
Investors in the round included Boston Scientific Corporation, Lighthouse
Capital Partners and previous investors.
JUNE 27th, 2005
Cardiva Medical, Inc. has closed an $8.3 million round of financing.
The Series B round was led by Stockton Partners, Inc and included investments from Sycamore Ventures, Harbinger VC Corp.,
and W.I. Harper Group.
Cardiva offers the Boomerang ClosureWire device, which has been
cleared by the U.S. Food and Drug Administration to assist in the closing of femoral artery puncture sites. That technology,
a vascular closure technology, according to Ken Goldman, M.D., Managing Director of Stockton Partners, may provide the underpinnings
for the capture of the vascular closure market, "We think that Cardiva and its Boomerang technology have the ability to become
the market leader in vascular closure. This financing will allow Cardiva to continue its rapid sales growth in the U.S. and
accelerate the introduction of its new products to the marketplace."
According to Cardiva, the worldwide vascular closure market is in
the neighborhood of $1 billion to $1.5 billion.
JUNE 14th, 2005
Cierra Raises $21 Million for Minimally Invasive Heart
Treatment
Cierra, Inc. announced a $21 million financing round. The round was led by Delphi Ventures
and included investments from Morgenthaler Ventures, Split Rock Ventures and Frazier Healthcare Ventures. The company plans
to use the funds for clinical trials and commercialization of its non-implant, catheter-based technology. Elaborating on the
investment was John Maroney a General Partner of Delphi Ventures, "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."
MAY 24th, 2005
NovoStent Corporation, a company that has developed the anchored
helical stent, has closed $9.65 million of financing. The round was led by Sanderling Ventures. Other participants included
Montreux Equity Partners, The Band of Angels Fund and Peninsula Equity Partners. According to Michael Hogendijk, NovoStent's
President , the funds will be the basis for the company's efforts in moving the stent platform forward to the human clinical
trial stage. According to NovoStent, the stent "will be initially demonstrated in the superficial femoral artery (SFA) during
the Company's first human trial."
|
