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Aviir Secures Second $10 Million Financing Tranche; Attracts New Investor Group
Date:2/12/2013

IRVINE, Calif., Feb. 12, 2013 /PRNewswire/ -- Aviir Inc., a biotechnology company dedicated to the prevention of cardiovascular disease through innovative laboratory tests, today announced that its current investor group was joined by Partners & Partners to fund the second $10 million tranche of a total possible financing of $30 million. The financing was triggered by the company's successful achievement of revenue milestones ahead of schedule and the final investment of $10 million will again be based on continued commercial metrics.

The proceeds will be used to fund the nationwide commercial launch of MIRISK VP™, Aviir's proprietary cardiac risk assessment technology, and additional laboratory testing services provided through Aviir Diagnostic Laboratories, based in Irvine, California. Merck Global Health Innovation Fund led the round. Merck was joined by Partners & Partners.  Current investors Bay City Capital, Aberdare Ventures, and New Leaf Venture Partners also participated.

"Aviir's mission is to identify and prevent cardiovascular disease, and subsequent deaths, through blood tests that identify a patient's risk of having a heart attack within five years, combined with treatment plan recommendations," said Douglas Harrington , M.D., Chief Executive Officer of Aviir. "50% of people who have a heart attack have normal cholesterol levels, but cholesterol is only part of the risk equation. More than 70% of heart attacks are caused by the rupture of unstable plaque in the arteries, which leads to clotting and heart attacks." He added, "The MIRISK VP™ test determines an individual's risk of experiencing future cardiac events, enabling them to take preventive action befor
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SOURCE Aviir Inc.
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