TIOGA CARDIOVASCULAR, A SHIFAMED PORTFOLIO COMPANY, CLOSES $30M IN SERIES C FINANCING
Summary
Led by Cormorant Asset Management, with significant participation from The Capital Partnership, AMED Ventures, the PA MedTech VC Fund, and Shifamed angel investors, the financing will be used to continue product development, support pre-clinical testing, and initiate first-in-human use for the companys novel transseptal mitral valve replacement (TMVR) technology. ""Despite innovations in structural heart technologies, advancements in treatment options for mitral regurgitation remain limited and there is a need for a low-profile device that is easier to deliver and does not interfere with the anatomy once implanted. Tioga has developed an elegant, highly differentiated solution for this underserved and growing segment of the structural heart market," commented Bihua Chen, Founder and Chief Executive Officer, Cormorant Asset Management. "Tioga Cardiovascular, a privately held portfolio company of Shifamed LLC, is focused on providing elegant valve replacement solutions for mitral and tricuspid applications that are procedurally simpler and use a less invasive, transcatheter approach.Founded by serial entrepreneur Amr Salahieh, Shifamed LLC is a highly specialized medical innovation hub focused on developing solutions that accelerate time to market, reduce risk, increase impact, and forge a path toward a world where patients are able to lead longer, healthier lives. To learn more about Shifamed, please visit www.shifamed.com.12018 Edwards Investor Conference: "Transcatheter Aortic Valve Replacement"2Douedi, S et al. National Library of Medicine.