Healthcare Industry News:  ReValving System 

Devices Interventional Cardiology Venture Capital

 News Release - March 28, 2007

CoreValve Completes $33 Million Private Financing

IRVINE, Calif.--(HSMN NewsFeed)--CoreValve (www.corevalve.com), a medical device company developing technologies for percutaneous heart valve replacement, announced today that it received $33 million in funding in its third institutional round of financing. Maverick Capital led the round and was joined by existing investors Apax Partners, HealthCap, and Sofinnova Partners.

"We have made significant progress in the development of our core technologies as well as in our clinical programs," said Jacques Seguin, M.D., Ph.D., Chairman, CEO and Founder of CoreValve. "This additional capital enables us to continue the execution of our strategy of leadership in less invasive heart valve delivery systems and the expansion of worldwide clinical trials."

About CoreValve

Founded in 2001, privately held CoreValve--which is headquartered in Irvine, California--has developed a proprietary delivery system and tissue heart valve for percutaneous heart valve replacement. Based on a novel catheter-and-self-expanding-frame approach on a beating heart, the proprietary CoreValve ReValving System(TM) procedure is intended to avoid open-heart surgery. It can be performed in a cardiac "cath lab" just like angioplasty and stenting, which may result in less trauma to the patient and may offer substantial cost-savings to the healthcare system. For more information about CoreValve, visit the Company's Web site at www.corevalve.com.

Forward-Looking Statements

This news release contains certain "forward-looking" statements under the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements, which may include, but are not limited to, statements concerning the projections, financial condition, results of operations and businesses of CoreValve, are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Factors that could cause or contribute to such differences may include, but are not limited to, risks relating to the protection of intellectual property, changes to governmental regulation of medical devices, the FDA's approval of new products, the impact of competitive products, changes to the competitive environment, the acceptance of new products in the market, conditions of the interventional cardiology industry and the economy and other factors.

(Caution: the CoreValve ReValving(TM) System will not be available in the USA for clinical trials or for commercialization until further notice.)


Source: CoreValve

Issuer of this News Release is solely responsible for its content.
Please address inquiries directly to the issuing company.



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