Healthcare Industry News: TVA Medical
News Release - January 11, 2010
Santé Ventures Invests $2.6MM in TVA MedicalSanté Also Announces the Addition of TVA Medical Founder, Dr. William Cohn to Santé Ventures Team as Venture Partner
AUSTIN, Texas--(HSMN NewsFeed)--Santé Ventures, an early-stage life science venture capital firm, announces a $2.6 million Series A investment in TVA Medical, Inc. (TVA), a medical device company developing minimally invasive therapies for End-Stage Renal Disease (ESRD). Santé formed the new company in partnership with TVA Founder, William (Billy) Cohn, MD, a cardiovascular surgeon and the Director of Minimally Invasive Surgical Technology at the Texas Heart Institute (THI) at St. Luke’s Episcopal Hospital in Houston, Texas. Cohn has also joined Santé Ventures as a Venture Partner.
Cohn has more than 60 United States patents awarded or pending for his medical innovations and has been honored as the Distinguished Inventor of the Year by the Intellectual Property Owners Association. He joined THI in 2004 following nearly 12 years at the Beth Israel Deaconess Medical Center where he served on the faculty of Harvard Medical School. “Billy is a brilliant and well-respected cardiovascular surgeon who also has a proven track record in developing innovative technologies and bringing them into the operating room,” said Santé Ventures Managing Director, Joe Cunningham, MD. “Billy saw a clear pain point in the treatment of ESRD patients and has sought to improve their care with the creation of TVA. We are excited to bring Billy’s experience and perspectives to TVA and other future investments.”
“The partnership with Santé is a very unique opportunity,” said Cohn. “Santé has committed capital and team resources to this venture, and I am confident that our combined experience and market knowledge provide the right ingredients to build a successful medical device company in TVA.”
“Over a half a million people in the US are suffering from ESRD and over 90,000 of those patients die each year,” said Tom Parker, MD, a nephrologist in Dallas, Texas, who recently co-chaired a summit at Harvard Medical School on challenges in the care of ESRD patients. “There has been a serious lack of innovation in the treatment of ESRD patients. I’ve seen the work that TVA has done and I’m excited about the opportunity to address this significant unmet clinical need.”
With the Series A financing, Adam Berman will join TVA as CEO, and the company will use the funding to complete product development and conduct human clinical trials. TVA is the eighth investment for Santé. Santé’s Cunningham and Kevin Lalande will serve on TVA’s board of directors.
About TVA Medical, Inc.
TVA Medical, Inc. (TVA) is a medical device company developing innovative, minimally invasive therapies for treatment of End-Stage Renal Disease (ESRD). The company is funded by Santé Ventures.
About Santé Ventures
Santé Ventures is a life sciences venture capital firm that invests exclusively in early-stage companies developing innovative new medical technologies or healthcare delivery models. The firm was founded in 2006 and has $132 million in capital under management in its debut fund. For more information, please visit www.santeventures.com.
Source: Santé Ventures
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