Navigation Links
CoAxia(TM) Announces $11.5M Equity Financing From Existing Investors
Date:4/1/2008

New equity infusion continues funding CoAxia's studies of its NeuroFlo(TM)

Perfusion Augmentation Therapy for Ischemic Stroke

MINNEAPOLIS, April 1, 2008 /PRNewswire/ -- CoAxia(TM), Inc. of Maple Grove, MN, today announced the closing of an additional $11.5M financing from current investors to support the continuation of CoAxia's ongoing clinical trials. The investment is an extension of the previously announced C Round and will allow CoAxia to continue its SENTIS pivotal FDA trial of NeuroFlo Perfusion Augmentation Therapy in acute ischemic stroke, as well as other ongoing feasibility studies to evaluate use of the same technology in additional stroke populations.

Canaan Partners and Prism Venture Partners co-led the recent $11.5M financing, with Baird Venture Partners, Affinity Capital Management, Johnson and Johnson Development Corporation and SVB Capital Partners also participating as major investors.

Brent Ahrens, General Partner from Canaan Partners stated, "Speaking for my colleagues involved in the CoAxia investment, we are pleased with the progress made by the team at CoAxia, and believe that the NeuroFlo technology has the potential to be widely applied in ischemic stroke -- with major benefit to stroke patients."

Andrew M. Weiss, President and CEO commented, "We are grateful for the support from our current investors, who, with the conclusion of this C Round extension, have invested more than $30M in CoAxia and the NeuroFlo technology. Our objective for the coming 24 months is to finish enrollment in our SENTIS pivotal trial, demonstrate the feasibility of NeuroFlo in several large stroke patient populations, and begin positioning CoAxia for future commercialization."

Enrollment in CoAxia's ongoing SENTIS clinical trial has now passed 125 patients with participation from over 50 major stroke centers in North America and Europe. Analysis of interim safety data suggests that treatment with CoAxia's NeuroFlo(TM) catheter is well tolerated with a very low rate of the complications normally associated with stroke patients. In addition, the FDA has recently approved an expansion in the scope of the trial to now treat patients up to 14 hours after symptom onset.

Investigator Gary L. Bernardini, Director of the Stroke Service at Albany Medical Center who has enrolled a number of patients in the trial says, "We continue to be encouraged by the safety profile of the treatment and look forward to the completion of the pivotal trial as well as applying this technology to additional populations in future studies."

In addition to the SENTIS trial, CoAxia continues to enroll within two additional feasibility studies, one which applies NeuroFlo treatment to stroke patients up to 24 hours after symptom onset and another which adds NeuroFlo treatment to the current standard of care -- intravenous delivery of the thrombolytic drug, t-PA.

CoAxia, Inc. is a venture-backed, privately held, development-stage company focused on providing perfusion augmentation therapies that improve outcomes for patients with cerebral ischemia resulting from stroke, vasospasm and other conditions.


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

Related medicine technology :

1. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
2. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
3. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
4. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
5. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
6. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
7. Xenomics Announces Implementation of its First Diagnostic Test for Acute Myeloid Leukemia Into Clinical Practice
8. Emisphere Technologies, Inc. Announces 2007 Second Quarter Financial Results
9. Amicus Therapeutics Announces Second Quarter 2007 Financial Results
10. Genta Incorporated Announces Second Quarter 2007 Financial Results and Corporate Highlights
11. MicroDose Announces Positive Results From the QDose Inhaled Insulin Glucose Clamp Study
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/29/2017)... DUBLIN , Mar 29, 2017 Research ... Global Market - Forecast to 2023" report to their offering. ... The ablation ... CAGR to reach $20,995.5 million by 2023. Ablation ... wide range of purposes, from cancerous or diseased tissue removal, to ...
(Date:3/29/2017)...  Spiral Therapeutics, Inc. today announced the signature ... for the worldwide exclusive rights to Bionure,s lead ... of otolaryngology for aggregate payments of up to ... provides Spiral with the option to license two ... Under the terms of the agreement, Spiral will ...
(Date:3/29/2017)... 2017   Royal Philips (NYSE: PHG, ... and PathAI, a company that develops artificial intelligence ... to develop solutions that improve the precision and ... diseases. The partnership aims to build deep learning ... artificial intelligence to be applied to massive pathology ...
Breaking Medicine Technology:
(Date:3/28/2017)... ... March 28, 2017 , ... A recent Bellwether Education Partners’ ... the field must first improve teacher preparation program design. It then asserts that ... that decades of input- and outcome-based research has failed to improve teacher education. ...
(Date:3/28/2017)... ... March 28, 2017 , ... India’s ... technology to directly address the resolution to globally reduce the harmful use of ... compound of FDA and TTB approved ingredients that when infused into alcohol, renders ...
(Date:3/28/2017)... WASHINGTON, DC (PRWEB) , ... March 28, 2017 ... ... call on elected representatives in state legislatures and Congress to protect parental rights ... the public health and safety in America. , The demonstration coincides with a ...
(Date:3/28/2017)... ... March 28, 2017 , ... ... of all holidays (IBT World Travel Trends Report). As travelers visit both urban ... range in temperatures, and prolonged sun exposure. In response, the outdoor industry has ...
(Date:3/28/2017)... ... 2017 , ... Via Oncology, the leading provider of oncology ... public-facing tool for analyzing the costs of various drug regimens in cancer care. ... patients, providers, insurers and pharmaceutical companies about the estimated costs of treatment options. ...
Breaking Medicine News(10 mins):