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:12/9/2016)... (PRWEB) , ... December 09, 2016 , ... Mediaplanet today ... for organ transplantation while encouraging readers to sign up as an organ donor for ... organ transplant. , An organ donor can save up to 8 saves through ...
(Date:12/9/2016)... ... December 09, 2016 , ... MEDI+SIGN®, a provider of fully-automated ... new solution for Emergency Departments (ED) has been added to their portfolio. Housed ... examination rooms, and with a simplified pallet of information available to the patient, ...
(Date:12/9/2016)... (PRWEB) , ... December 09, 2016 , ... ... program through the Pennsylvania Cable Network (PCN) during the summer of 2016. The ... Implementation Grant provided by the United States Department of Health and Human Services ...
(Date:12/8/2016)... FL (PRWEB) , ... December 08, 2016 , ... ... awarded accreditation with distinction by the Undersea and Hyperbaric Medical Society (UHMS), the ... with advanced care and patient safety. Only a few hospitals and facilities have ...
(Date:12/8/2016)... ... 08, 2016 , ... Russ DiGilio , founder and ... #QuackGivesBack campaign which supported local breast cancer organizations during National Breast Cancer Awareness ... Back initiative, and we’re very pleased with the participation in every franchisee’s ...
Breaking Medicine News(10 mins):
(Date:12/9/2016)... Pa. , Dec. 9, 2016 Department ... announced temporary regulations for medical marijuana dispensaries under Act ... Pennsylvania Bulletin , and are now available online ... is needed in the plan for operation; process for ... dispensary; as well as where the dispensary facilities can ...
(Date:12/8/2016)... VIEW, Calif. , Dec. 8, 2016 IRIDEX ... intends to offer newly issued shares of common stock, $0.01 ... pursuant to an underwritten public offering.  The final terms of ... the time of pricing, and there can be no assurance ... IRIDEX expects to use the net proceeds it ...
(Date:12/8/2016)... Dec. 8, 2016 KEY FINDINGS ... Patient warming ... of blood during surgeries, lowering the risks of neurological disorders ... of SSIs. The patient warming systems can be segmented into ... benefits in turn reduce the stay at hospitals thus, lowering ...
Breaking Medicine Technology: