Starlight Cardiovascular Secures $9.48M in Series A Financing to Advance Pediatric Health
Summary
SAN DIEGO, Oct. 4, 2022 /PRNewswire/ -- Starlight Cardiovascular announced today that it has closed the first $9.48M in an $11.45M Series A financing, which will be used to progress development of its portfolio of pediatric interventional cardiology devices. "Congenital Heart Disease (CHD) affects approximately 1% of babies born each year, and the annual cost of pediatric CHD hospitalizations in the US alone is upwards of $6B.1 Treatment often requires open chest surgery on newborns, which can result in prolonged recovery times and long-term developmental delays.2 Most interventional cardiology tools that are used to treat babies are designed for adults and used off-label, requiring physicians to modify the devices ad hoc and leading to increased re-interventions and morbidity. Its first product, a Ductus Arteriosus Stent, replaces a life-saving open chest surgery with a microcatheter-based procedure performed through a small incision in the skin. "Alf Grunwald, Executive Advisor at Bird B AG commented, "We are excited to be partnering with Beverly and the entire team at Starlight to continue their important work in bringing these cutting-edge medical devices to market. Bird B is an active investor, supporting all investments by providing strategic guidance and utilizing its extensive network of business and executives in the medical field.