Navigation Links
Ablative Solutions Completes $5.3M Series A Financing
Date:6/19/2012

KALAMAZOO, Mich., June 19, 2012 /PRNewswire/ -- Ablative Solutions, Inc. (ASI), a privately-held company headquartered in Kalamazoo, MI with offices in Menlo Park, CA announced today that it has completed a Series A Preferred Stock financing, totaling approximately $5.3 million  (including the conversion of the bridge financing completed earlier this year), to fund its unique technology platform.  The round was led by BioStar Ventures and the Michigan Accelerator Fund, and included participation by multiple angel investors.  Honigman Miller Schwartz and Cohn LLP served as legal advisor to ASI for the transaction.

ASI is developing a significantly different approach to Renal Denervation, a new therapy that addresses hypertension and other diseases related to overactive sympathetic nerve activity.  The sympathetic nerves that run along the renal artery play an essential role in controlling blood pressure but, when overactive, contribute to hypertension.  Renal Denervation has been demonstrated to reduce blood pressure in patients who are not effectively treated by medical therapy.  De-activating these nerves modulates the signaling process, and helps to reduce blood pressure.  Unlike other approaches to Renal Denervation, which deliver destructive energy through the entire renal artery wall, ASI has developed a unique device that targets treatment directly to the nerves that encircle the renal artery, without damaging the artery wall – a solution that ASI calls PeriVascular Renal Denervation (PVRD™).

"Hypertension has an extraordinary impact on health, but it is a disease that is underappreciated.  There is good reason for the excitement surrounding Renal Denervation – it produces a persistent, durable reduction in blood pressure with a minimally invasive procedure," observed Dr. Tim Fischell, CEO and CMO of ASI.  "ASI seeks not only to simplify and streamline the denervation procedure, but, more importantly, to do so without damaging the vessel wall, by delivering the therapy directly to where the sympathetic nerves reside, just outside the blood vessel."

"We believe that ASI's simple, elegant approach will address the clinical need effectively," stated Dr. Vartan Ghazarossian, President and COO of ASI.   "Our technology development is driven by the awareness that less is more – providing optimized ablation of the sympathetic nerve less invasively and with less equipment and a shorter procedure time."  The Company projects that its clinical evaluations will begin in 2013.   

ASI was founded by two proven medical device entrepreneurs, Tim Fischell, MD and David Fischell, PhD.   With executive experience in both biopharmaceutical and medical device companies, Vartan Ghazarossian, PhD, is uniquely positioned to lead the development of ASI's novel device-chemistry-based therapy.  Dr. Steven Almany of BioStar Ventures, a member of ASI's Board of Directors, commented: "The therapeutic potential of perivascular renal denervation is very attractive, and we are very pleased to invest in ASI's team as they develop their unique approach." 

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in this offering.  There will not be any sale of these securities in any state or jurisdiction in which such offering, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For more information:
Vartan Ghazarossian, PhD
(650) 321-6884
http://www.ablativesolutions.com

Forward-Looking Statements

This press release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Information in this press release, which is not historical, is forward-looking and involves a number of risks and uncertainties. Investors are cautioned not to put any undue reliance on any forward-looking statement. ASI's actual results may differ materially from ASI's historical results of operations and those discussed in the forward-looking statements for various reasons, including, but not limited to ASI's ability to carry out its business plan, successful development and commercial acceptance of its products, ability to fund development necessary for existing products and for the pursuit of new product opportunities, ability to hire required personnel, the risk of whether products result from development activities, protection of ASI's intellectual property portfolio, the risk associated with obtaining the necessary regulatory approvals, the ability to obtain foreign regulatory approvals for products and to establish marketing arrangements in countries where approval is obtained, and other potential factors.

http://www.ablativesolutions.com

http://www.biostarventures.com

http://www.maf-1.com

 


'/>"/>
SOURCE Ablative Solutions, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Retrospective Study Suggests that Stereotactic Ablative Radiotherapy (SABR) Can be a Viable Option for Treating Early-Stage Lung Cancer in Operable as well as Inoperable Patients; Phase III Randomized Trial Now Under Way
2. UBM Canon, the Global MedTech Authority, Partners with the World Medical Device Organization, WMDO, to Provide Medical Device Companies with Industry-Related Online Training Solutions
3. Cardiosolutions, Inc. Receives FDA 510(k) Clearance for Dexterity™ Steerable Introducer
4. At SIIM 2012 Siemens Healthcare Demonstrates Departmental IT Solutions That Help Administrators Increase Access while Managing Costs
5. Cardinal Health Specialty Solutions Launches PathWare™ Decision Support Transaction Solutions
6. SolutionStart Corp. Announces John Karagiannis as Vice President of Technology
7. Amgen Completes Acquisition of Mustafa Nevzat Pharmaceuticals
8. Jazz Pharmaceuticals Completes EUSA Pharma Acquisition
9. Savara Pharmaceuticals Completes Phase I Clinical Study of AeroVanc in Cystic Fibrosis Patients
10. Bausch + Lomb Completes the Acquisition of ISTA Pharmaceuticals
11. CryoLife Completes Acquisition of Hemosphere
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... -- In a startling report released today, National Safety Council ... comprehensive, proven plan to eliminate prescription opioid overdoses. Prescription ... are tackling the worst drug crisis in recorded U.S. history, assigned ... Kentucky , New Mexico , ... 28 failing states, three – Michigan , ...
(Date:6/23/2016)... Research and Markets has announced the addition of the ... to 2022" report to their offering. ... financial data derived from varied research sources to present unique ... on the market during the next five years, including a ... markets, regional and country level analysis. The report provides a ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... "Key Pharma News Issue 52" report to their offering. ... need in influenza treatment creates a favourable commercial environment for ... and growing patient base that will serve to drive considerable ... flu vaccine would serve to cap sales considerably, but development ...
Breaking Medicine Technology:
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... First ... United States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell ... facility Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson has ... he has implemented orthobiologic procedures as a method for treating his patients. The ... first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons use ...
(Date:6/25/2016)... ... , ... Conventional wisdom preaches the benefits of moderation, whether it’s a matter ... bar too high can result in disappointment, perhaps even self-loathing. However, those who set ... , Research from PsychTests.com reveals that behind the tendency to set low ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set of ... or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, Serenity ... event. , Trauma sufferers tend to feel a range of emotions, from depression, guilt, ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her ... would lash out at his family verbally and physically. , “When something upset him, he ... he would use it. He would throw rocks at my other children and say he ...
Breaking Medicine News(10 mins):