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September 9th, 2005
Direct Flow Medical, a company that is developing a percutaneous
aortic tissue valve prosthesis, has obtained $3.5 million in financing from NLV Partners as part of Series A private equity
financing. Other investors included Spray Venture Partners and EDF Ventures.
Randy Lashinski, CEO of Direct Flow Medical, indicated
that the funds would be used for clinical trials, "We are pleased to have expanded our base of investors and to be working
with venture partners that have a depth of experience and understanding of the cardiovascular device area. Proceeds of the
Series A round will be used to advance into human clinical trials our lead product, the Direct Flow percutaneous aortic tissue
valve prosthesis. The company's goal is to initiate its first clinical study outside of the United States in late 2006, following
the successful completion of which we would expect to begin a European trial in 2007 and file for an IDE in the U.S. that
same year."
Noting the attributes of Direct Flow’s technology
was Jeani Delagardelle, a managing director at NLV Partners "In our opinion, Direct Flow Medical's less-invasive, proprietary
approach could significantly expand the number of aortic valve replacement procedures performed annually, which is currently
estimated at 150,000 surgeries each year in the United States. Specifically, this technology is designed to enable aortic
valve replacement for non-surgical candidates who are too sick for surgery and, conversely, for patients who are not sick
enough to justify the risk of open-heart surgery and who are generally managed with drug therapy. Together, these patient
populations represent an additional 150,000 potential procedures."
September 6th, 2005
TargeGen Funding Level Surpasses
$70 Million
TargeGen, Inc., which focuses on the treatment of cardiovascular,
eye disease and cancer through the use of small molecule kinase inhibitors, has raised $30 million in a
Series 'C' Preferred Venture Financing Round. Investors in the round included BB BIOTECH VENTURES, the lead financier,
as well as H&Q Healthcare Capital Management, Forward Ventures, Enterprise Partners, William Blair Capital Partners/Chicago
Growth Partners, CDP Capital Technology Ventures/VantagePoint Venture Partners, China Development Industrial Bank, A.M. Pappas
& Associates and other undisclosed investors.
TargeGen indicates that among its four compounds
under development, the one in the most advanced stage of development is TG100-115, which is in Phase I/II clinical
trials in heart attack patients. Another product the company is developing is TG100801 for the treatment of macular
degeneration, diabetic macular edema and diabetic retinopathy. The other two compounds are in the pre-clinical testing
stage and are for oncology applications.
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