CardiAQ Valve Technologies Garners $6,500,000 New Funding
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=4275307f-c678-420f-83d4-9761dd96c715&Preview=1 -
Date
1/12/2010 -
Company Name
CardiAQ Valve Technologies -
Mailing Address
1 Orient Street Winchester, MA 01890 -
Company Description
CardiAQ Valve Technologies (CVT), a privately held company founded by heart surgeon Dr. Arshad Quadri, is developing innovative approaches to heart valve replacement and is initially focused on percutaneous mitral valve replacement (PMVR).There are more than two million people who suffer from mitral regurgitation (MR), yet only about 80,000 repair or replacement procedures take place each year. The significant treatment gap is largely due to the risk associated with the currently available surgical procedures. While several companies are attempting to develop percutaneous approaches to repair the mitral valve, these repair technologies have limited applicability due to the heterogeneous nature of the disease and, so far, have had a difficult time demonstrating efficacy that is equivalent to surgical approaches. -
Website
http://www.cardiaq.com/ -
Transaction Type
Venture Equity -
Transaction Amount
$6,500,000 -
Transaction Round
Undisclosed -
Proceeds Purposes
The funding is expected to support R&D needed to advance the firm’s main product to human studies. -
M&A Terms
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Venture Investor
Broadview Ventures -
Venture Investor
Undisclosed
