Navigation Links
CV Ingenuity Announces Close of $16 Million Series B Financing Led by NEA
Date:10/4/2011

MENLO PARK, Calif., Oct. 4, 2011 /PRNewswire/ -- CV Ingenuity, a privately-held medical device company, today announced the close of a $16 million Series B round of financing led by New Enterprise Associates (NEA), a leading global venture capital firm. Existing investors BioStar Ventures, Synergy Ventures and Western Technology also participated in the round. CV Ingenuity (CVI), which is focused on the development of a drug-eluting balloon platform technology that aims to treat peripheral artery disease while also working to prevent restenosis, will use this latest round of funding to accelerate product development and expand the leadership team.  

"I am extremely pleased with the significant financial commitment that NEA and our existing investors have made to CVI in this funding round," said CEO Duke Rohlen. "Their financial support is further validation of our technology, our leadership team and our strategy to develop a drug eluting balloon technology to treat patients suffering from peripheral artery disease. We are thrilled to partner with these blue-chip investors as we accelerate into clinical development."

The afflicted patient population that CVI's technology will treat is substantial. It is estimated that PAD currently affects between eight and 12 million adults-and is the leading cause of amputation in patients over 50. Hospitalization costs of PAD alone are estimated to exceed $21 billion annually.

"CVI is addressing an important and overlooked disease within a market that has an estimated $1 billion potential," said NEA General Partner Ryan Drant. "They have developed an extremely sound technology platform and have a tremendously talented and resourceful team that is now in a position to expand and rapidly develop this promising device." Mr. Drant and Justin Klein, a principal with NEA, will join the CVI Board of Directors.

About CV Ingenuity

CV Ingenuity is a Palo Alto, CA based medical device company focused on improving patient outcomes in the treatment of vascular disease by providing "Touch-and-Go" solutions to relieve vascular obstructions, inhibit restenosis, leave no implant behind and allow natural vessel healing. The company's core technology is a Drug-Eluting Balloon (DEB) platform with a novel, proprietary, tunable, rapid-release system uniquely designed for "Touch-and-Go" treatment of vascular disease. The technology enables mechanical relief for vascular occlusive disease, delivers a discreet dose of an anti-restenotic agent, and allows for a more natural vascular healing process by leaving no implant and no long-term drug effect behind.

About NEA

New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $11 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 170 portfolio company IPOs and more than 280 acquisitions. In the U.S., NEA has offices in the Washington, D.C. metropolitan area; Menlo Park, California; and New York City. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.


'/>"/>
SOURCE CV Ingenuity
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Ingenuity Announces New Additional MicroRNA Content to Complement First-of-its-Kind MicroRNA Filtering Capability in IPA
2. Ingenuity Announces RNA-Sequencing Workflow Support and First-of-Its-Kind microRNA Filtering Capability With Latest Release of IPA
3. Ingenuity Systems and TransMed Systems Integrate Software to Support Personalized Medicine Research
4. Medical Alarm Concepts Announces Beta Testing of Next Generation MediPendant™ Medical Alarm Technology!
5. Zimmer Holdings Announces Live Audio Webcast and Conference Call of Third Quarter 2011 Results
6. Varian Medical Systems Announces New Management Positions
7. The Law Firm of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches of Fiduciary Duty by the Board of Pharmaceutical Product Development, Inc. in Connection With Sale of the Company to The Carlyle Group and Hellman & Friedman
8. PAREXEL Announces Date of First Quarter Fiscal Year 2012 Earnings Release and Conference Call
9. Concord Medical Services Announces Share Repurchase Program
10. Sysmex Announces Newest Version of Clinical Laboratory Management Software
11. Atrium Announces the Publication of the COBEST Trial by the Journal of Vascular Surgery
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... America held the largest share in the ECG ... population and demand for remote monitoring ECG devices. On the ... is expected to witness the highest growth rate during the ... (U.S.), Becton, Dickinson and Company (U.S.), Medtronic plc ( ... ) and Mindray Medical International Limited ( China ...
(Date:12/2/2016)... ATLANTA , Dec. 2, 2016 Quantum ... screening and expert radiologist interpretation directly to women at ... partners with corporations, such as Delta Air Lines and ... cancer screening as a component of wellness initiatives. ... women of SunTrust. It enables them to have a ...
(Date:12/2/2016)... , Dec. 2, 2016  Eli Lilly and Company ... guidance for 2017 and provide updated financial guidance for ... conduct a conference call on that day with the ... financial guidance. The conference call will begin ... public can access a live webcast of the conference ...
Breaking Medicine Technology:
(Date:12/2/2016)... ... December 02, 2016 , ... With the number of pain management programs ... patients must find the one that works for them. When an inventor from Suisun ... that worked and decided to share it with others. , He developed a prototype ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... "Cardiovascular Health" in USA Today, which covers the innovative treatments, therapeutic technologies, and ... maintaining fulfilling lives. “We are prolonging life 6 years in the last 3 ...
(Date:12/2/2016)... ... December 02, 2016 , ... Sourced from the Isbre Springs beneath the ... its unmatched natural purity of just 6 ppm TDS (Total Dissolved Solids) in addition ... has been available in several ShopRite and FoodTown stores in NJ and received rave ...
(Date:12/2/2016)... ... December 02, 2016 , ... Clarify Health Solutions, Inc., the ... million in an initial round of funding. The round was led by experienced ... can receive far better care through the application of the best technologies from ...
(Date:12/2/2016)... Miami, FL (PRWEB) , ... December 02, 2016 , ... ... they are winners of $1,000 each from the National Family Partnership and the Drug ... winning families who decorated their homes and the 10 winning schools who decorated their ...
Breaking Medicine News(10 mins):