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June 15, 2009

New Investors, Fountain Healthcare Partners and Mitsui Co. Venture Partners Lead $17.3 Million in Series C Funding for Cappella, Inc.

Filed under: Venture Capital News — admin @ 1:53 am

Based in Galway, Ireland, medical device innovator, Cappella announced today that it had just finalized $17.3 million in series C funding with new investors, Fountain Healthcare Partners and Mitsui Co. Venture Partners, or MCVP leading the funding. Other investors who took part in this round of funding include new investors, Enterprise Ireland; and existing investors, Polytechnos Partners and ACT Venture Partners.

Capella is a medical device company that is the creator of an innovative device to help treat Complex Coronary Artery Disease, or CAD. The company’s main product is the Sideguard TM SideBranch stent, which is inserted into the coronary artery and can fix even some of the severest legions in the artery. Capella was founded in 2004 by Dr. Antonio Columbo, MD, who serves as the chief physician of invasive cardiology at the San Rafaelle Hospital in Milan, Italy. Another key person at Capella include Dr. Ascher Shmulewitz, MD, PhD, who is a cardiologist and a cardiac device entrepreneur. Dr. Shmulewitz is also the founder of several medical companies, which include Neovision, Xcardia, and Labcoat, Ltd.

Proceeds of this round of funding will go to enhance the development and the commercialization of the Sideguard Sidebranch stent and market it for the treatment of Bifurcated Vascular Disease in Europe and to advance R&D programs on Capella’s new CAD treatment devices at their Galway, Ireland manufacturing center.

According to Capella’s newly appointed CEO, Dr. Art Rosenthal, this funding has come at a crucial time, when Capella is at the point where it wants to launch the Sideguard Sidebranch stent, which is the company’s first product to be commercialized. Furthermore, Dr. Rosenthal goes on to state that CAD is a disease which continues to be a perplexing disease for cardiologists to treat and the market for devices to treat this disease is growing and profitable.

Before coming to Capella, Dr. Rosenthal worked at Labcoat, LTD as the company’s CEO and at the Boston Scientific Corporation, he served as the CSO.

Fountain Healthcare Partners is a vc firm that is dedicated to the healthcare and life science industries. The vc firm is based in Dublin, Ireland and has an office in New York. The focused sectors of Fountain Healthcare Partners is in diagnostic solutions, medical devices, and pharmaceuticals and some other companies in their portfolio include Palyon Medical Corporation, Opsona Therapeutics, Amerin Corp, and others.

MCVP is a Japanese vc firm that has expertise in funding US based entrepreneurs who want to turn there early stage companies into global corporations. MCVP has offices in Japan, the United States, and China. Some companies in MCVP’s portfolio include Clara Online, Inc., FIS, Inc., UMI Technologies, StartForce, Inc., and others.

For more information about Capella, click here.


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