CardiAQ Valve Technologies, Inc Lands $7,500,000 New Round

  • Feed Type
  • Date
    5/27/2009
  • Company Name
    CardiAQ Valve Technologies, Inc
  • Mailing Address
    Undisclosed 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
    $7,500,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The funding will be used to further develop the company’s platform with an initial indication for percutaneous mitral valve replacement (PMVR).
  • M&A Terms
  • Venture Investor
    Broadview Ventures Inc