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Embrella Cardiovascular, Inc. Announces Closing of Series B Round
June 9th, 2009 1 comment
MALVERN, Pa. Embrella Cardiovascular™, Inc. today announced that it closed its Series B financing round, raising approximately $5.1 million in new capital. BioStar Ventures led the round, along with existing investor, the MedFocus Fund, and several existing and new private investors. In addition, the Series B round attracted a new, initial investment by Edwards Lifesciences Corporation.
Embrella Cardiovascular™, Inc. is developing an embolic protection device called the Embrella Embolic Deflector™. The device is designed to decrease dangerous debris or emboli from entering the brain by deflecting the emboli away from the carotid arteries. These dangerous emboli can cause neurological complications during cardiovascular procedures.
Embrella Cardiovascular™, Inc. Chairman, Jeffrey O’Donnell commented, “These proceeds will fund clinical trials outside the U.S., which we expect to initiate later this year; as well as to develop the appropriate and necessary infrastructure to bring the Embrella Embolic Deflector™ to fruition. We look forward to this next stage of our development.”
The Embrella Embolic Deflector™ would serve as an adjunctive device to be used in procedures such as the less invasive Transcatheter Aortic Valve Implantation (TAVI) procedure for the treatment of severe aortic stenosis. Frequently the aorta contains atheromatous plaque and the valve can be densely calcified. During this procedure, wires, catheters and balloons pass over the aortic arch to deliver the new aortic valve prosthesis. It is during these steps that debris and calcific particles can be dislodged and embolized to the brain. “We believe the technology will serve an unmet clinical need and will help to make TAVI procedures safer for patients,” said Carol Burns, Vice President Product & Business Development.
Louis A Cannon, MD, FACC, FACP, Founder, Senior Managing Member of BioStar Ventures, said, “I believe that there will be a tremendous amount of opportunity in the structural heart and vascular disease markets for the Embrella Embolic Deflector™. This technology has the potential to reduce procedural complications, enhancing patient safety. We believe Embrella will prove integral to the huge opportunity in this market, and will bring excellent returns for our investors.”
About Embrella Cardiovascular™, Inc.
Embrella Cardiovascular™, Inc. is dedicated to creating a new standard-of-care for cerebral embolic protection during cardiovascular procedures. Embrella Cardiovascular™, Inc believes that this technology can be successfully utilized as a safe, efficient and cost effective method of preventing dangerous clot or debris from embolizing into the carotid arteries during cardiovascular procedures.
Source: Embrella Cardiovascular, Inc.
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