|[August 21, 2014]
Claret Medical® Raises up to $18 Million in Series B Financing to Advance the Field of Cerebral Protection
SANTA ROSA, Calif. --(Business Wire)--
Medical™, Inc., a developer of innovative solutions for cerebral
protection during structural heart, vascular and cardiac surgery
procedures, announced today that it has entered into an agreement for up
to $18 million in a Series B financing. The Series B round was led by
Santé Ventures, a prominent healthcare-focused venture capital firm with
$260 million in capital under management, with participation from
Lightstone Ventures, a leading venture capital firm with $172 million
under management. Easton Capital also joined the round. Dr. James Eadie
from Santé Ventures and Hank Plain from Lightstone Ventures will be
joining the company's Board of Directors.
Proceeds will be used primarily to complete the U.S. pivotal trial of
the company's Sentnel™
Cerebral Protection System (CPS) for embolic protection during
transcatheter aortic valve replacement (TAVR), which received
Investigational Device Exemption (IDE) approval earlier this year.
The Sentinel CPS is the only filter-based system on the market that both
captures and removes embolic debris released during TAVR procedures that
could otherwise be a source of peri-procedural stroke. The system has
been used in more than 800 procedures worldwide to date.
"Many consider the stroke rate in TAVR concerning, especially as
clinicians look to bring the benefits of TAVR to lower risk and younger
patients," said Azin Parhizgar, PhD, President and Chief Executive
Officer of Claret Medical. "The proceeds of this financing round will
enable Claret Medical to conduct the SENTINEL pivotal trial, which we
expect to confirm the therapeutic importance of embolic debris capture
and removal during TAVR. This same approach has long been established in
carotid stenting procedures."
"The SENTINEL trial will evaluate the role of the Sentinel CPS in
reducing the number and size of new ischemic lesions in the brain and
their potential impact on patients' neurocognitive function," said
Martin Leon, MD, Director of the Center for Interventional Vascular
Therapy at Columbia University Medical Center in New York and chair of
the trial's Clinical Steering Committee. "By doing so, the trial will
help define the field of cerebral protection during TAVR in order to
pave the way for safer TAVR procedures."
The company is also embarking upon two other studies of structural heart
procedures that could benefit from the use of the Sentinel CPS in
reducing cerebrovascular events during complex surgical and
About Claret Medical
Claret Medical is a privately-held company focused on innovative
solutions for cerebral protection during structural heart interventions,
vascular interventions, and cardiac surgery procedures. The company is
currently focusing product development and clinical research on
addressing the problem of stroke during TAVR, a significant unmet
clinical need. For more information: www.claretmedical.com.
CAUTION: Investigational Device. Limited by United States law to
investigational use. Claret Medical and Sentinel are trademarks of
Claret Medical, Inc.
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