Endovalve Meets Early Milestones; Seeks $8 Million Series B Funding
Summary
“The company has successfully demonstrated feasibility of concept, has met required milestones and has performed under budget,” said Battelle Ventures General Partner Tracy Warren. “While maintaining his position of vice president at Battelle’s Medical Device Solutions business unit,” said Warren, “Tomba oversees an outsourced group of some 20 highly trained and skilled engineers provided by Endovalve’s outsourcing product development partner Foster-Miller.” Said Dr. Wilkins, “We have successfully completed the first stage of developing the Endovalve mitral valve replacement system, with critical performance criteria achieved with a 4x-scale functional model of the valve and anchor design. The SAB, Dr. Wilkins explained, “is composed of distinguished cardiologists and cardiac surgeons representing top institutions and is chaired by Dr. Howard Herrmann, who led the team that invented the new valve replacement system’s underlying technology at the University of Pennsylvania.” [Members’ names and affiliations are included below.] Their involvement should help reduce programmatic risk and accelerate our time to market.” Dasse, who currently heads Waltham, Mass.-based technology company Levitronix, LLC, “brings nearly three decades of invaluable experience to the Board,” said Dr. Wilkins. “His research in cardiovascular disorders and developing medical devices, including products for percutaneous and vascular access, makes him a great addition to the Endovalve team.” Dr. Wilkins will be presenting at the Medtech Insight conference In3 West in Irvine, Calif., on February 28.