May 7, 2009
VC Firm, Accuitive Medical Ventures Leads $30 Million Investment for Sadra Medical
Based in Cambell, California, Sadra Medical has raised $30 million in capital with Accuitive Medical leading the funding. Other participating investors in this funding include Boston Scientific, Finstere, Firstmark Capital, Oakwood, ONSET Ventures, and SV Life Sciences; who are existing investors of Sadra Medical. Founded in 2003, Sadra Medical was founded by a group of prominent cardiologists who have a vision of creating new therapies that minimize the invasiveness of major heart surgeries, such as those treating aortic valve disease. Aortic Valve disease is one of the major cardiological disorders in the United States, and treating aortic valve disease has many unmet needs. It is estimated that in the United States over 3 million people suffer from aortic valve disease.
According to Charles E. Larsen, managing director and cofounder of Accuitive Medical Ventures, due to the limitations of current treatments, treating aortic valve disease can be quite challenging to treat because the procedures are very complicated and require a great deal of skill on the part of the treating physicians. The innovative technologies that Sadra Medical is developing have great potential in changing and revolutionizing the way aortic valve disease is treated in both the United States and Europe. Mr. Larsen further stated that aortic valve replacement is a market worth more that $2 billion and Sadra Medical has an upper advantage in this market because its product meets some of the most important needs of physicians who treat aortic valve disease and is also less traumatic to patients with aortic valve problems.
According to Sadra Medical’s president and CEO, Ken Martin, the company has had successful results of its product in European clinical tests. By reviewing the data from physician-patient experience, Mr. Martin believes that Sadra Medical has a product that seems to be on the right track in treating aortic valve disease. Furthermore, Mr. Martin also states that the company is also developing more innovative treatments for this disease.
Accuitive Medical Ventures is a vc firm that solely focuses on investments in the medical industry and in companies that have innovative medical products. Accuitive Medical Ventures has offices in Palo Alto, California; Atlanta, Georgia, Rochester, Minnesota; and Fernandina Beach, Florida and has over $230 million under its management. Accuitive Medical Ventures looks for entrepreneurs who are passionate and have strong leadership skills and good management teams. The vc firm also looks for inventors who have an innovative product prototype which is creative and can be a medical device that can meet important needs in the medical industry. Some of the companies in Accuitive’s portfolio include Cardiac Concepts, CardioFocus, Celliutions, Halcion, Inogen, LipoSonix, Torax Medical, and others.
Boston Scientific is a medical company that has been around for 25 years and has a mission to improve the quality of healthcare by improving patient care and introducing new innovative devices or treatments that make surgeries less invasive. Boston Scientific is a global company with its main office in Natik, Massachusetts and foreign offices in Beirut, Lebanon; Vienna, Austria; Diegem, Belgium; two offices in the Netherlands, and many other countries.
Founded in 1984, ONSET Ventures is a vc firm that believes that great ideas can become successful businesses. Since its founding, ONSET Ventures has invested in over 100 companies and manages a fund with over $1 billion. Some companies in ONSET’s portfolio include NetSeer, Xorp, Pegesus, AneuRx, CardioMind, and others.
SV Life Sciences is a vc firm that finances companies in the medical industry. SV Life Sciences likes to find select entrepreneurs who have good management teams and an innovative product or service in all sectors of the medical industry. SV Life Sciences has five funds under its management that totals about $1.5 billion.
For more information about Sadra Medical, click here.