Healthcare Industry News: CoreValve
News Release - January 12, 2010
CardiAQ Valve Technologies (CVT) Closes $6.5 Million 'Series A' Funding for Its Novel Transcatheter Mitral Valve Implantation (TMVI) SystemOver-subscribed offering includes the earliest investors in CoreValve, paves way for first-in-man study
WINCHESTER, Mass.--(HSMN NewsFeed)--Transcatheter heart valve company CardiAQ Valve Technologies (CVT), which is developing the world’s first self-conforming and self-anchoring technology for Transcatheter Mitral Valve Implantation (TMVI), announced today that it has closed a $6.5 million ‘Series A’ funding led by a group of private investors with proven expertise in the transcatheter heart valve space. The funding, which incorporates conversion of all previous debt, will be used to technically and clinically validate the CVT technology and is expected to carry the Company through initial first-in-man studies.
About CardiAQ Valve Technologies
Privately held CVT, headquartered in Winchester, Mass., is developing a proprietary system for Transcatheter Mitral Valve Implantation (TMVI) based on technology invented by cardiac surgeon Arshad Quadri, M.D., the Company’s Chairman, founder and CMO. Through the combination of a unique anchoring mechanism and a novel delivery catheter, physicians will be able to accurately and securely implant a new mitral valve within a beating heart, thus avoiding open-heart surgery. The CVT procedure is designed to be performed in a cardiac catheterization laboratory (similar to angioplasty or stenting), resulting in less trauma to the patient and substantial cost-savings to the healthcare system.
Source: CardiAQ Valve Technologies
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