Navigation Links
Clear Catheter Systems Completes $600-Million Financing, Opens Cleveland Office
Date:7/24/2008

BEND, Ore., and CLEVELAND, July 24 /PRNewswire/ -- Clear Catheter Systems (http://www.clearcatheter.com), formerly PleuraFlow, an early stage medical device company developing a proprietary medical catheter clearance platform, today announced the completion of a $600,000 financing round. The financing was led by X Gen Ltd, a family venture fund based in Cleveland, Ohio. It also includes a grant from the Cleveland Clinic Global Cardiovascular Innovation Center (GCIC) initiative, which is backed by $60-million from the State of Ohio's Third Frontier Project, a program to promote technical innovation and commercialization. BVC/CC, an angel group based in Bend, Oregon, also participated in the funding.

The funding will help Clear Catheter Systems develop its lead tube clearance product, the PleuraFlow System. The system will be used to prevent obstruction of surgical drainage tubes inserted after heart, lung and trauma surgery. Such obstruction, or clogging, has long remained an unsolved problem in surgery, with important implications for both patient safety and comfort.

"I've had patients say to me that the most memorable and painful part of heart surgery was the day their drainage tubes were pulled out," says Marc Gillinov, M.D., the Cleveland Clinic cardiothoracic surgeon who helped develop the PleuraFlow System. "We need to develop smaller tubes that drain the wound effectively, but don't hurt as much." Gillinov serves as Chairman of CCS's Scientific Advisory Board and as a consultant to the company.

"We are pleased to be collaborating with the Cleveland Clinic to develop and commercialize medical devices to improve outcomes after heart and other surgeries," said Edward Boyle, M.D., Clear Catheter Systems' CEO. "Clear Catheter's innovative technology addresses a large unmet need for surgical patients, allowing surgeons to deliver care in a safer, more minimally invasive fashion."

The company is in the process of opening a Cleveland office to better facilitate its collaboration with the Cleveland Clinic, and to access other resources available to the Ohio medical device community.

"Clear Catheter Systems is doing exciting work and we are pleased to be involved in the continued development of the PleuraFlow System," said Mark Low, GCIC Managing Director. "Cleveland Clinic and GCIC are committed to expanding Ohio's economy, and we welcome this growing company to Northeast Ohio."

About Clear Catheter Systems Inc.

Clear Catheter Systems, a development stage medical device company, founded in Bend, Oregon, is developing a proprietary medical tube clearance platform based on technology from the Cleveland Clinic and MDI Partners, a Bend, Oregon incubator. Clear Catheter's ultimate goal is to develop its tube clearance platform to help make surgery safer and more comfortable for heart, lung, trauma, and other patients.


'/>"/>
SOURCE Clear Catheter Systems, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Antioxidants show no clear benefit against cardiovascular events, death in high-risk women
2. Nurses Send Sutter a Clear Message
3. Investigational New Drug Application for Fat Melting Injections Cleared by the FDA
4. Medical, technological advances prompt updating of nuclear medicine technologists scope of practice
5. Nuclear medicine approach can be first choice for excluding pulmonary embolism in young women
6. Accuray Receives FDA Clearance for New Dose Calculation Technique for Body Radiosurgery
7. Trade-offs reveal no clear favorites in alternative energy market
8. OSF HealthCare Achieves Impressive Tobacco Quit Rates with the Free & Clear(R) Quit For Life(TM) Program
9. Siemens Announces Early Termination of Hart-Scott-Rodino Waiting Period For Acquisition of Dade Behring Holdings, Inc.; U.S. Antitrust Clearance Achieved
10. Cardiva Medical, Inc. to Present at the UBS 2007 Global Life Science Conference With the Announcement of FDA 510(K) Clearance of its Newest Device: The Boomerang Catalyst II System(TM)
11. NDO Receives FDA 510(K) Clearance for Plicator II(TM)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2017)... ... September 22, 2017 , ... PITTSBURGH...Defibrillators are ... saves lives. However, if one isn’t accessible in certain locations, the risk of ... I came up with this idea," said an inventor from Ridgecrest, Calif. , ...
(Date:9/22/2017)... ... September 22, 2017 , ... ... Safe Is Smart Scholarship Sweepstakes.,  , Molli C., a graduate student from Sonora, ... Educational Leadership and Administration at St. Thomas University in Miami, Florida, was selected ...
(Date:9/22/2017)... ... September 22, 2017 , ... ... emergency rooms is celebrating the one year anniversary of its Houston-Fallbrook facility. ... said Dr. Otinwa, Facility Medical Director of First Choice Emergency Room Houston-Fallbrook. “It ...
(Date:9/22/2017)... Diego, CA (PRWEB) , ... September 22, 2017 ... ... offer groceries, wearable, and more products at customers’ doorstep. According to Smart Mart, ... Smart Mart has stated to offer wearable, and customers can find clothing at ...
(Date:9/21/2017)... ... September 21, 2017 , ... Process ... 1:30 p.m. – 3:00 p.m. ET, http://www.fdanews.com/processcapabilityindices      , ... wrong, run afoul of The Quality System Regulation (§820.250), and Devicemakers find themselves ...
Breaking Medicine News(10 mins):
(Date:9/7/2017)... STOCKHOLM , Sept. 7, 2017 NuvoAir ... Air Smart Spirometer, announced today a partnership with Novartis Pharma ... partnership solidifies NuvoAir,s position as the leading mobile spirometry platform ... respiratory patients. ... spirometry test ...
(Date:9/6/2017)... ORANGEBURG, N.Y. , Sept. 6, 2017   PDI ... today announced it will host an educational session focused ... line-associated bloodstream infection (CLABSI) prevention at the 2017 Annual ... meeting, which will take place at the ... Arizona from Sept. 16-19, will also feature ...
(Date:9/5/2017)... 5, 2017  Getinge, a leading global provider ... charitable donation program -- "Color for the Kids!" ... defect research by The Children,s Heart Foundation. Pediatric ... public are encouraged to download a coloring picture ... artwork to the gallery on the website. For ...
Breaking Medicine Technology: