CardioKinetix - Top 10 VC deals, H2 2011
Based: Menlo Park, CA
Amount: $44 million
Investors: SV Life Sciences, New Leaf Venture Partners, U.S. Venture Partners, J.P. Morgan Partners, H&Q Healthcare Investors and H&Q Life Sciences Investors.
Scoop: After collecting more than $22 million in several rounds dating back to 2006, CardioKinetix joins our list after nailing down $44 million in Series E financing in September. The substantial investment supports the ultimate end game: bringing its Parachute device to treat left ventricle heart failure to market in both Europe and the U.S. CardioKinetix plans to use the cash infusion to help fuel additional clinical studies to support commercialization of the product in Europe, plus a pivotal clinical trial and PMA submission of the product in the U.S. The company explains that the Parachute, a partitioning membrane, is designed for heart attack patients and implanted through a catheter procedure, inserted through the femoral artery. In many heart attack patients, the left ventricle becomes bloated and can begin to fail from all the damage. The Parachute steps in by simply blocking off the damaged portion of the ventricle, reducing its overall volume and helping to make the ventricle work better.
CardioKinetix hauls in $44M in Series E