Cardiosolutions Lands $8,000,000 New Funding Round
-
Feed Type
-
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3a5fe7f0-2d88-4bd0-b231-a04e12a491b1&Preview=1 -
Date
7/11/2012 -
Company Name
Cardiosolutions -
Mailing Address
75 Mill Street Stoughton, MA 02072 -
Company Description
Cardiosolutions, Inc. was incorporated in Delaware in 2006 to develop a less invasive, percutaneous alternative to open heart surgical repair of the mitral valve. Cardiosolutions’ pioneering technology, the Mitral Repair System, is designed to greatly reduce the degree of mitral regurgitation in patients with either functional or degenerative valve insufficiency. -
Website
http://www.cardiosolutionsinc.com -
Transaction Type
Venture Equity -
Transaction Amount
$8,000,000 -
Transaction Round
Undisclosed -
Proceeds Purposes
Sorin’s $8 million investment in Cardiosolutions will finance on-going product development and clinical testing of the technology. Under the terms of the agreement, Sorin has also an option to acquire the company in the future. -
M&A Terms
-
Venture Investor
Sorin Group
